Apple's iOS 16.2 update included a new HomeKit and the Home app architecture. It was retracted due to bugs and installation issues. Apple stated at the time that the change would be temporary.
Apple is nearing to reimagining its updated Home architecture, according to backend code, which suggests that the company is planning a "version 2" to test internally.
The iOS 16.4 beta should be released soon, since iOS 16.3 was released earlier this week. It's likely that the update will be renewed alongside the beta.
Some users saw their HomeKit devices disappear from their HomeKit setups or become stuck with a "configuring/updating" status as the first release of the updated Home architecture. Others saw their HomeKit Secure video recording malfunction.