Dailey cited multiple reasons for the decision. Chief among them is development difficulties the team encountered during 2020. Dailey said:

From now on, Dailey said BioWare will split its focus between Dragon Age 4, the new Mass Effect, and Star Wars: The Old Republic. Bloomberg’s Jason Schreier confirmed the Anthem NEXT team was shifted onto Dragon Age 4 around the time the news officially broke.

Anthem first released in 2019, and despite showing promise in its gameplay, it was universally criticized for lacking content.

[Source: BioWare Blog]

BioWare Cancels Anthem Next Update  Shifts Focus to Dragon Age 4 - 27