Release date speculation
Now that filming is rumored to have wrapped or is expected to wrap by October 19th, I think we've all been estimating that the release date would be about 7 to 8 months later, which is the normal post production time needed for each season with season 2 being the one outlier. That would put us around the May/June timeframe and would be perfect for pride month marketing.
However, Wednesday S3 just wrapped filming as well just last week. Although they have more CGI and post production work that they'll have to get through, they have a similar 7 to 8 month post production timeline as well. This completely clashes with S5 and since these are two huge flagship shows for Netflix, they are likely not going to air both in the same month/quarter.
I do think Netflix may give the priority to Wednesday since S2 aired in August/September 2025 so there's already been a longer wait and the viewership numbers for S2 really took a hit because they've been taking way too long to release each season.
My official prediction would be that Wednesday gets the May/June slot and S5 gets July/August, potentially August/September depending on whether Netflix really cares about spreading them apart further.