The delay of Shenmue 3 is between the second half of 2018 which has been announced by Yu Suzuki director of the game. The game previously had a tentative December 2017 release window, but in an update to Kickstarter backers, Suzuki said more time is needed to fully realize his vision.
In order to achieve the game concept you supported, and my sixteen-year long personal dream, we have revised the development schedule. We are moving ahead with a plan to release the game in the second half of 2018. On May 28, developer Ys Net confirmed Shenmue 3 would not appear at E3 this year. However, a new character was revealed for the game.
source via IGN