Nah its entirely possible to still make that date. Most of the post production is practical effects anyway so not a lot of cgi work required. The original movie was completed in about 8 months beginning to end. Same with Afterlife. Although it's release got delayed due to covid. But it was finished and ready to go.
Oh I know the story of the original, they only got the money on the condition they met that deadline as there was a slot for a movie that needed to be filled. I'd just be very surprised if they meet this deadline. For practical effects that would be more the pre-production type of thing to have them built, tested and ready for the movie, the cg obviously comes in during post, but even at that we don't know how much practical fx will be in this as we've not seen anything of it yet. Afterlife had some practical fx but a decent amount of cg as well, they seem to try and use practical when possible and if it makes sense in terms of money.