That’s exactly how they framed it. They cited reasons as worker burnout and Hasbro / the game system. They wanted to be done with BG3. Studios don’t really announce that the second they finish the game.
It wasn’t the second they finished the game. It was after working on DLC for months, which was after a 6 year development cycle. That’s not the same as telling Hasbro to fuck off. That’s having the luxury of a war chest that means they can afford to do the less lucrative thing and make whatever is going to keep their talent happiest.