Some features could still be added until the official release. Microsoft is no longer so particular about when which features are integrated into the system or even backported. WB11 never this year,unfortunately I'm still waiting for curtains because it does not interfere so deeply in the system.
As is always the case. But still with 22H2 entering the stage of "feature complete" this usually means that the software is done adding features and is now entering a new stage of bug squashing. The Dev channel and Beta channel have also been separated which gives Microsoft a whole new piece of software that is not "feature complete" to add new features for next years big annual update. Realistically we may even see 22H2 enter "release preview" by next month or July. This late in development it is highly unlikely we will see anything new in 22H2. But we can still discuss the actual holdup of Windowblinds 11 in more depth anyways.
The reason Windowblinds 11 has taken a while to be started is due to the tablet friendly taskbar that was in development on the dev/beta channel for months. This taskbar broke things like transparency, blur, and even texturing. So that is the particular area that was holding up development. That taskbar was scraped completely on the "feature complete" version of 22H2 paving the way for Windowblinds 11 to finally begin. But there is even more to this story, by the time the taskbar was scrapped Neil actually hinted that he solved all the issues that the "tablet friendly taskbar" was causing. This means that even if the taskbar does resurface all it will take is a flip of the switch and there will be no delays to the development of Windowblinds 11.
The path for Windowblinds 11 is pretty open now, I bet it is released about the same time 22H2 drops.