Rumours suggest that new MacBook Air’s are not due until next year. It is likely that they will have a complete redesign, so if that is important to you you may want to wait. New MacBook Pro’s are due to be released this year in 14” and 16” variants. However with the expected M1x processors these are likely to have more GPU cores, and support more ports and external displays than the current M1 macs. However I also expect these will come with the Pro price premium, as at the moment the current M1 13” Pro is pretty close in performance to the MBA.
So in summary, if you want a more expensive M1x Pro then you should not have too long to wait, if you want an upgraded Air then April next year is more realistic, are you happy to wait that long?
If the current MBA M1 is fast enough for you, is it really worth waiting until next year, the main performance jump is likely to have been from Intel 13” MBA to M1 MBA. The jump to next generation Apple silicon processor is likely to be smaller.
That is my take on it anyway.