I have yet to see a timetable for when Intel is going to release 11th Gen H-Series CPUs suitable to use in a 16” MacBook Pro update. That’s not to say that Intel isn’t already ready to go, but I see no indications that a launch is imminent. More so the fact that Intel hates launching this late in the year as they usually can’t provide enough CPUs for the holiday season. That might be mitigated though by the fact that H-Series is comparatively low volume enough for most PC OEMs.
They said "coming soon" a month ago, but for Intel, "coming soon" could be weeks, months or even years.