Riot Games announced Project L, among other games, during LoL's 10th anniversary but the game is still quite a bit away from release since even the testing phase is set for another year.
Project L will not be playable in 2021 for the wider public as not even a beta test will pop up during the year. The info is coming from Tom Cannon, the project lead on the game, who stated that beta tests should not be expected any time soon and definitely not this year.
While disappointing to those who were looking forward to Riot's fighting game in the near future, it is a fairly sensible announcement, given the disruption that the Coronavirus pandemic caused worldwide. That said, Cannon did mention that Project L is coming along well since it's on track with "many core systems in place".
Even though no beta will take place in 2021, public or otherwise, fans can still look forward to the latter part of 2021 when Project L is concerned. Cannon announced there will be a dev update that should share more about the game and it's supposed to happen around the end of the year.
Considering that Riot is running multiple projects simultaneously, there is still plenty you can anticipate from the company, be it new content in League of Legends, Valorant and TFT or announcements about the new games such as the upcoming RPG, MMO and as we previously stated - project L.
There is also the Netflix show set in LoL universe that is just around the corner.