Would Airtags constrain supplies of other, higher value apple products? I have wondered about their delay, but could understand it in terms of their requiring components that would put even more pressure on other product lines.
I don't imagine Airtags have anything to do with this; reading the article it looks like ipads and laptops are being held up due to component shortage. It's painful to have a product announcement when you can't ship enough.
They wouldn't do a whole event just for Airtags (I would think...). More likely the event would be tied in with overdue iPad Pro refreshes, which are mentioned here as being supply constrained.
Long way to say yes, this could be part of why it seems like the unannounced but expected Apple event remained unannounced.