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I guess there will be one last release towards Nov 23, because I'm already seeing some activity (https://github.com/php/php-src/commits/PHP-8.1/).

Yes, you're right. I stand corrected! It'll be tagged on Nov 21 and released Nov 23, if the current schedule doesn't change.

I assume the security changes will use the branch you linked above, so there will likely be more activity until EOL in late Nov 2024.