Yep, Genndy said himself that Sony has halted all production on the film due to a "change in company direction." I think he also said that if a Hotel transylvania 3 happens then he's not gonna be the one directing this time.

Here's the ultimate bittersweet realization: without Sony cancelling Popeye in favor of the Emoji Movie, Genndy might not have had the chance to return to Cartoon Network Studios to work on season 5 of Samurai Jack (CN Studios animated the series as shown at the end of the credits, just because the show was on Adult Swim now doesn't mean CN's main animation studio was somehow "restricted" from being involved, they even animated the Korgoth pilot a decade ago because most of the animators at Williams Street specialize in low budget limited animation [Robot Chicken and Rick and Morty also have their animation handled by companies outside of Williams Street]). So yeah… I'm going to hate myself for saying this later but it looks like without the Emoji Movie we wouldn't have gotten Samurai Jack season 5.

Excuse me while I re-evaluate my life over the realization that something good actually came out of the Emoji Movie's existence.