After making the call back in March to postpone Coachella 2020 to two weekends in October, Bloomberg is reporting that festival organizers are asking artists set to play this fall to play the 2021 version instead. That would indicate that organizers aren't expecting to hold the festival at all in 2020.
Headliners Rage Against The Machine have rescheduled all of their 2020 dates for 2021 and don't have October's Coachella dates on their current tour schedule. Frank Ocean and Travis Scott are the festival's other headliners.
Coachella has yet to comment on Bloomberg's story, but with numerous reports from industry insiders citing 2021 as the earliest large-scale concerts could resume it seems likely we'll get an update from the annual Indio, CA event before too long.