Most likely, or we would never have heard of it.
Legends 3 and Mega Man Universe were Inafune's pet projects, and by his own admission, he tended to force things through in spite of upper management's wishes by using tactics like going overbudget on prototypes and whatnot.
And, legends 3 specifically had an open development process. Many games get cancelled before the public ever hears about them, like that First person X reboot.
this one doesnt seem like something they'd cancel.
I mean for perspective, they've only really cancelled 2 games, and both were mired in internal politics regarding Inafune.
This is the first major step for the franchise without him. And after Mighty No. 9 bombed hard, Capcom can't afford to screw this up. This is a golden chance for them to swoop in and succeed without Inafune and prove they CAN still make Mega Man games