I'll post what I posted in another thread:
"If I had to guess based on Apple's history and the current climate, I'd say a year or more before a new iPad Pro. Their current chip in their iPad Pro line is currently more powerful than any Tablet on the market and most laptops. This is more like an 'S' upgrade. In my experience when Apple does this, it's to buy more time while they work on a major upgrade of said product, while at the same time giving it a refresh to encourage more buyers. With the release of 13.4 and mouse support, plus the Magic Keyboard, they've done just that. My guess, March or Sep of 2021. The only other possibility I could see would be a new iPad category all together that gets released later this year in response to Microsoft's Surface Neo. But as far as the iPad Pros go, I believe what you see is what you get for at least another year"
So in short, if you want or need one now, why wait? As other posters have said, I wouldn't get into the what ifs waiting game. Trust me from experience, that can drive you crazy. There will always be new tech. I have a 2018 11". I just upgraded to the 2020 12.9" because my needs and circumstances have changed and I wanted the bigger screen. Although many say it's not worth the upgrade from the 2018 models to the 2020, the big screen was important to me at this time. I'll worry about what happens in a year or so when the time comes.
My opinion is there won't be another iPad Pro Model for at least a year or more. I feel what you see is what you get for the foreseeable future. I do see Apple working on a new category of iPads similar to how they did with the iPhone when they released the iPhone X. If you recall, the iPhone X was a completely new redesign. It was in a category by itself. Now their standard and pro models are designed after this concept. I see that happening with the iPad line. Apple will release a 5G, mini LED, possibly foldable, iPad that's in a category of it's own. Then months down the line they'll model their Pro and Standard models after this design. Just my opinion.
"If I had to guess based on Apple's history and the current climate, I'd say a year or more before a new iPad Pro. Their current chip in their iPad Pro line is currently more powerful than any Tablet on the market and most laptops. This is more like an 'S' upgrade. In my experience when Apple does this, it's to buy more time while they work on a major upgrade of said product, while at the same time giving it a refresh to encourage more buyers. With the release of 13.4 and mouse support, plus the Magic Keyboard, they've done just that. My guess, March or Sep of 2021. The only other possibility I could see would be a new iPad category all together that gets released later this year in response to Microsoft's Surface Neo. But as far as the iPad Pros go, I believe what you see is what you get for at least another year"
So in short, if you want or need one now, why wait? As other posters have said, I wouldn't get into the what ifs waiting game. Trust me from experience, that can drive you crazy. There will always be new tech. I have a 2018 11". I just upgraded to the 2020 12.9" because my needs and circumstances have changed and I wanted the bigger screen. Although many say it's not worth the upgrade from the 2018 models to the 2020, the big screen was important to me at this time. I'll worry about what happens in a year or so when the time comes.
My opinion is there won't be another iPad Pro Model for at least a year or more. I feel what you see is what you get for the foreseeable future. I do see Apple working on a new category of iPads similar to how they did with the iPhone when they released the iPhone X. If you recall, the iPhone X was a completely new redesign. It was in a category by itself. Now their standard and pro models are designed after this concept. I see that happening with the iPad line. Apple will release a 5G, mini LED, possibly foldable, iPad that's in a category of it's own. Then months down the line they'll model their Pro and Standard models after this design. Just my opinion.