Even though they do not plan on holding in-person events, that will not stop them from having online events and tournaments.
"We will continue to provide online competitions throughout 2021 with the hopes that physical events, in some form, can return at some point in the future."
Epic's "intent is to eventually hold global in-person tournaments again, but our priority for any such event is the health and safety of our players and staff." This announcement comes in the form of a blog post.
Epic is not the only company to cancel all in-person events. Companies like Valve are also canceling in-person tournaments for some of their games. With the current rise of cases and the uncertainty of the vaccine's effectiveness, it is safe to say that we may not see many in-person events in 2021.