That project of Dan Povenmire's which got greenlit in 2020 has premiered recently, that being Hamster & Gretel, which as a first is being worked in without Jeff "Swampy" Marsh. At the same time this was all done whilst another show of Povenmire's had been in a state of being neither renewed or cancelled following the season 2 finale, being of course Milo Murphy's Law, of which is the case even to this day. Fortunately the masterminds of the Dwampyverse still are intent on giving that show one more season as intended.

As for when a 3rd season of Milo Murphy's Law actually takes place, it should still be right after the events of season 2 rather then the amount of years that has passed since the season 2 finale, though they could still make a joke about it. As for when Hamster & Gretel takes place meanwhile, that hasn't yet been confirmed, but whenever it should take place should be after what we can truly call a closing point to Milo Murphy's Law, being when Cavendish and Dakota have returned to their own time, in addition to being when Milo will have completed a year of schooling. I guess we could find out come a potential crossover that Hamster & Gretel has with other shows from the Dwampyverse, though I'm not betting on anyone like Doofensmirtz becoming a part of the cast of yet another show this time around.