Not sure of the reason yet, but the U.S. pay TV network has changed its mind on making 10 new episodes of the long running Canadian series. It was supposed to be shot in Toronto in the summer, but the entire class is now dismissed.

This would have the 6th version of the show, but it has a way of popping up over and over again. So it's possible it could still turn up again somewhere else at some time in the future.

Degrassi Reboot Cancelled at HBO Max