According to the latest info from a ResetEra member named boskee, CD Projekt Red failed certain technical milestones required before they could send Cyberpunk 2077 for approval.
Earlier today, from a Polish insider Borys Niespielak who claims that one of the main reasons for Cyberpunk 2077 delay lies in the current generation consoles, which are supposedly not powerful enough to run the game properly.
Niespielak explained that, according to his sources, Cyberpunk 2077's performance on the original Xbox One console is "extremely unsatisfactory" and that there's essentially no way that Cyberpunk 2077 can run on the current-generation consoles in its current form.
Of course, this is just a rumour and you should take it with a grain of salt, just like any other unofficial information but a new insider's claim actually confirms that Niespielak's story could well be true. A ResetEra member named reveals that his info comes straight from CD Projekt Red:
"It [has] less to do with what they feel about the game, and more to do with what the platform owners (Sony, Microsoft) thought," boskee wrote and explained that CD Projekt Red failed to "meet certain technical milestones before the game can be sent for approval".
Again, while in no way official, the information provided is strikingly similar to the one from Niespielak. To be fair, Niespielak did not reveal these exact details but he did say that the performance is not satisfying which certainly suggests that Cyberpunk 2077 was not properly optimised for either one of the current-gen consoles.