Frontier have recently said the following two related things (paraphrased):
1. We're going to give you more straight forward and open answers, even if it's news you don't want to hear. Unless a feature is under active development or we can see it on a roadmap, we'll say there are no plans for it.
2. We'll fix bugs, but there are no plans for further featureful VR development, including Odyssey on-foot gameplay
Fixing bugs aside, from the above I'd say we should assume that on-foot VR is neither under development nor on any current development roadmap. As
@BigBANGtheory [VR] said, kudos to them for being straight.
That's not to say VR will never be on the development roadmap - what they definitely did NOT say on stream was "we're never touching VR again", whatever some in the community heard - and we really have no idea at this stage how far into the future their internal roadmaps stretch beyond the planned console launched in the autumn. That said, VR for Odyssey is decidedly non-trivial to implement well. Even just turning on headlook has implications for the HUD elements and interactions, neither of which seem to have been designed in an especially VR-friendly way.
At this stage I think it's more realistic to ask them to concentrate on smaller VR-specific fixes and quality of life improvements to make the VR we do have suitable like:
- fixing the remaining VR bugs and performance issues (though I think many of the bugs from this old thread have since been fixed)
- changing the grey background for a black (or at least dark grey) one in cinema mode so it's not as distracting
- allowing the user to customise the distance from the virtual screen for those who want it bigger / smaller