It's going to be interesting to see how this progresses. In the 'Bro, Do you Even Pinball?' JJP live stream last week, Jack said that Pat's game will be shown "before the end of the year". They are setting up a smaller second line now to rerun WOZ, so they will have 2 lines going, one running TH and the other running WOZ. Jack said they were producing 15-20 Hobbits per day at the moment, around 300/month, so things are definitely ramping up. Hobbit code is 95% finished, again as per Jack, so most of their development resources will be focused on Pat's game soon.
All this bodes well for a fairly complete 3rd game on reveal. This development time for this game has to be one of the longest in history, given that it was announced back in January 2014 and Pat started working on it in his private facility early on. So if it is revealed at the end of this year, that will be 3 years since the initial announcement.