Pokémon have announced a new VSTAR Mechanic which can be evolved from a Pokémon V. It is unclear whether or not this will replace VMAX or will be a third special evolution.
Only one English VSTAR card has been released so far. Arceus VSTAR bears the card number 123/172. This indicates that it will be part of a set containing 172 cards before secret rares. With this number of cards in the set it is likely to be a main set with booster boxes rather than a special set where booster packs are only available in special collection sets and elite trainer boxes.
The game Pokémon Legends Arceus is scheduled for release on 28th January 2022. It therefore seems logical that Arceus VSTAR, and the new mechanic will feature in the first set of 2022. If Pokémon follow the trend of previous years it should release in February 2022.
Pokémon have released a promotional video which shows Arceus VSTAR, which can only be used once in a game, being the final and decisive card to be played.
The Arceus VSTAR card has a HP (Hit Points) of 280 making it difficult to defeat but if defeated it gives up 2 prize cards.
***Update*** – At the beginning of November 2021 it was announced that the VSTAR mechanic would be launched in the set Brilliant Stars scheduled for release on February 25th 2022.