It sounds like Terraria 2 development is the focus for Re-Logic, as the developer of one of the Terraria 1.4.4 update Labor of Love as its developer turns towards work on the Terraria sequel.
Speaking about the next patch, Re-Logic vice president Whitney 'Cenx' Spinks says that "Terraria 1.4.5 should be a rather small update." In response to a query about the potential for alternative biomes in future patches, Cenx explains that such a feature "would be for a much larger update like 1.5… Which sounded fun but making a new game sounds a little bit better right now."
Terraria creator Andrew 'Redigit' Spinks also comments that "1.4.5 isn't the feature creep update that 1.4.4 was," explaining that the team has "a small list of loose ends to tie up and that's it." With so many changes coming in Labor of Love, from huge quality of life overhauls such as inventory upgrades and loadouts to the addition of Terraria's hardest seed, there were always going to be a few things that cropped up on the notepad to address following its wide release, such as the addition of crossplay, which Re-Logic says it hopes will arrive in 2023.
"In all fairness we did really intend for Journey's End to be the absolute final major update," Cenx says, referring to the Terraria 1.4 update. However, she notes that winning the Steam 'Labor of Love' award for a game demonstrating outstanding over time "inspired us to give the community a community inspired update" with 1.4.4. As for labelling updates as final, Cenx remarks that "We usually mean it, especially with Journey's End… Just didn't pan out that way and we have zero regrets."
Asked about whether Re-Logic would consider handing off updates to another team, Cenx says that "Terraria is our baby and we would not want anyone changing our vision for the game. When we decide to move on it will be because the game is done." She also jokes that "As soon as the community as a whole thinks we will never stop updating we will ghost you all for game two."
Prior to the release of Labor of Love, Redigit shared some early Terraria 2 concept art, showing a rather bizarre collage of ideas he had sketched together as an initial prototype for things that could be seen in a sequel. It'll likely be a while until we get any concrete details on exactly what the future of Terraria looks like, but it seems like the pace is beginning to pick up.
If you've been diving into Labor of Love, our guide to Terraria mods for plenty of additional ways to do so.