Console Odyssey will never arrive in my opinion. Frontier has abandoned the Xbox One and PS4 versions and they focus on PC entirely from now on. I don't have trust in this "we will put consoles back on the roadmap some day" claim. It just will not happen. Firstly, it's clear that Odyssey will never be in a state where old hardware like the Xbox One and PS4 could run it properly. Even though Frontier has claimed before that system requirements would not change significantly, it's clear that Odyssey does need much more powerful PCs to run with even remotely acceptable framerates. After making it work like this, it is simply impossible to optimise it enough so that the old consoles could run it. Despite Frontier's always ambiguous communication I think we can be blunt about this. Xbox One and PS4 will never be able to run Odyssey in an acceptable manner.
Secondly, Frontier has claimed several times clearly that they have absolutely no plans to create a dedicated new-gen version of Elite, so they will not optimise the game to use the hardware of PS5 and Xbox Series X|S. This I can fully believe, as they now have no plans to support any console anymore. With no plans for current hardware and technically unable to bring it to old hardware, the only logical conclusion is that Elite Dangerous has been abandoned on consoles for good.
I expect this announcement sometime early next year. In my opinion, anyone who still believes or hopes for a console release date for Odyssey any time next year or beyond simply doesn't know Frontier well enough. They have put consoles aside, cut them down like dead weight in order to try and save Elite Dangerous on PC, their traditional platform and biggest playerbase. It is understandable, given the grave situation Elite is in right now, and from this point of view it's "the right decision" - although I would rather call it a desperate one. In the end, as a console player, I don't feel that my support, time, money and love for Elite matters to the developers anymore. This wonderful game is now left to die on consoles, and it's one of the saddest things I've seen in gaming for many years.