It appears that the current version of Yes featuring Jon Anderson, Trevor Rabin, and Rick Wakeman will split after a final tour in 2020.
The possibility of new music remains, but they'll wait to see how good the music is first according to Rick Wakeman. Yes ARW initially began working on ideas together back in 2011 but didn't become fully active in 2016. They went on hiatus earlier this year.
“We feel it’s sort of come to the end of the road,” Wakeman said. “None of us are spring chickens anymore, although Trevor still has a ‘6’ in front of his age, whereas Jon and I don’t. I think we’ll thoroughly enjoy another [tour] and then I think we can sort of proudly close the lid on it, very happy in our belief that we’ve done it proud.”
Frontman Jon Anderson has said that he’d be “very open” to a reunion with the other Yes lineup featuring Steve Howe. He said, "There's maybe 20 versions of Yes I've been in, and everyone's been fantastic – but it was always chaos in there for some reason.”
Source: UltimateClassicRock