In April, Square Enix gave us information on when the Final Fantasy XIV 5.3 patch was to be released. The news regarding this did not look great because of the COVID-19 pandemic affecting development.
In early June, we get a post from Naoki Yoshida, Final Fantasy XIV's Producer and Director, that the Final Fantasy XIV Fan Fest would be canceled and that Patch 5.3 still does not have a set date, but that they will be testing it soon.
Fast forward to today, in a post from Naoki Yoshida, he states that "As of now, Patch 5.3─Reflections in Crystal is scheduled to release on Tuesday, August 11, 2020."
He stated that they did everything they could to get the patch out in mid-July. However, they determined that they needed to test further the new alliance raid as well as large-scale encounters that are being added to the game.
On top of this announcement of the release date as well as some further detail as to why August 11th was chosen, Yoshida confirms that the next "Letter from the Producer LIVE" will take place on Wednesday, July 22nd, which will detail more of the patch and what we will see when 5.3 is released.
You can read the complete "Letter from the Producer, LXIV" over at the Final Fantasy XIV Forum.