There is a lot of work going on with sub-interpreters and the per-interpreter GIL is shipped in Python 3.12.
The results are very impressive: https://lwn.net/SubscriberLink/941090/8bcb029dbf548f26/, as good as one could have hoped I think.
It seems to me like the work on sub-interpreters will continue in parallel ;) to the work on free-threading.
Sub-interpreters and no-GIL have different use-cases though.