Reports say that Will Smith is definitely in for the third installment in the franchise (he has time thanks to Suicide Squad 2 getting pushed back), but Lawrence has yet to work out a deal for Bad Boys for Life.
So, if there is going to be another setback for this project, it will likely be in those negotiations.
Adil El Arbi and Bilal Fallah are definitely on board to direct the upcoming project, after people including Joe Carnahan formerly were helming the film.