Even though Overkill's The Walking Dead was initially set for a February release on both Xbox One and PS4, that is sadly not going to happen. The title gave that info away already, but yeah, the game is not coming.
Starbreeze has noted that it's " currently evaluating and reviewing the performance of the game Overkill's The Walking Dead on consoles". That's all we know at this point in time and we will (hopefully) get more info in the near future.
While this makes us very sad, it's also somewhat understandable as the last few months were very turbulent for Starbreeze and it obviously affected everything. Here's hoping that the final product will be worth playing.