COTA's finances have always been on loose ground. For its part, no fans, no gate receipts, no state subsidy = no money, and no race.
Local jurisdictions make the call on whether gatherings are permitted, and how large they can be. Not F1.
The N24 is two months away, and will run without spectators.
IndyCar ran with no fans at the first two races in Texas, and Indy, because TMS was amenable to it, and to keep things simple while returning to action. Fans were permitted at RA and Iowa because the circumstances allowed for them. The 500 is planned to run in front of estimated 25% capacity, made up of new ticket sales prior to the cutoff, and existing ticket holders who elected not to defer their seats until the 2021 race. Mid-Ohio will allow a limited number of fans, and may be changed to a doubleheader, to compensate for the potential loss of Portland and Laguna, which have additional problematic factors involved, not just health concerns.
The U.S. has granted travel entry exemptions to sporting personnel, including motorsports, thanks to IMSA. But that doesn't preempt local restrictions on quarantine periods and such. Or specific prohibitions like the one for Brazil.
In short, there are many hoops to jump through, and F1 for its part, decided that too many factors weighed against the three-race swing through the Americas, and called it off.
Despite the circumstances, I like the fact that the calendar is concentrated on the European venues.