yes they will do refresh but no new architecture untill 2020
Which is the same for Intel. Coffee/Cannon are just small iterations and they are iterations on an old architecture. A brand new architecture will have (95% of the time) significantly more room for fixing and improving areas of the design. I'd expect Zen + to offer a significantly bigger boost to IPC than Cannon or Coffee lake will as a result.
Intel and AMD both have tocks coming but no new architecture till 2020-2021 time frame.
As for Cannon lake on 10nm this year, nope. Coffee lake MIGHT hit this year in Q4, if it does it is solely 45W and below dual cores and I believe not even quad cores. Cannon lake is an additional tock on 14nm which looks set to bring an extra 2 cores to the i7 range. This is pretty likely to come in 2018 rather than late this year. Also before it manages to launch AMD will have both 8 core cpu and quad core APU options available. Now if you want pure CPU, the 8 core is almost certain to be faster than the Cannon lake hex core and adding the extra cores is if anything going to mean hex core Cannon lake clocked slower than the quad core skylake.
If you want APU for the GPU performance, then AMD quad core APU is going to trash Cannonlake hex cores... because if you want GPU power the extra two cores won't do anything for you. AS such Cannon lake doesn't really bring much to the table, it can't match an AMD APU on gpu performance and it can't match AMD on mainstream CPU count and it will also likely cost a lot more than either. Keep in mind skylake igpu performance(without the insanely expensive iris pro versions which aren't really available for desktop) can basically not beat AMD's 5 year old GPU and CPU architecture based Bristol Ridge chips on 28nm... while Intel uses their most up to date CPU and GPU architecture on 14nm.
AMD gpu performance will likely be in the region of 2.5-3x higher than currently and Intel won't come close to matching that.
Back to Coffeelake and 10nm, if you think back to Broadwell, it was supposed to come over a year earlier than it did but 14nm delays and trouble with the early process caused issues. What was supposed to be a full product stack ended up only being the mobile dual cores, then they finally released quad core desktop Broadwell a year later a couple months before Skylake released.
Intel are going the same way with 10nm, significant delays, TWO added 14nm tocks(Kaby and Cannon, with Kaby being architecturally identical but with higher clocks), they've moved to only pushing dual core mobile products for the first release at 10nm and likely desktop quad/hex cores till a year or so later.
Intel won't have a 10nm higher power desktop part till late 2018 at the earliest now, Cannon Lake looks like Skylake architecture again but with hex core added to the mix and even so it offers nothing compelling, with 8 core CPU or twice the GPU performance from a quad core APU from AMD.