There is a lot of conjecture here, but my observations are the following:

Fire sale of the GH5M2all over (Norway, UK, Germany). Mostly bodies as the GH5M2 kits have been sold out during the black friday week. UPDATE: One retailer lists the GH5M2 as discontinued.

Also hefty rebates in the GH6 last year (-500 USD in US, same as on the S5 mk I BTW, in europe it was 400 euro winter cash back). Current GH6 discount at B&H is still -300USD. GH6 lens kits sold out from many german retailers, some list mid march for new stock/replacements.

Also the 12-35 mm f2.8 mk II lens have been observed at dumping prices, i.e. buy a GH6 get the 12-35 mm f2.8 for FREE (Norway).

So my personal prediction; both the GH5M2 and GH6 are end-of-life. The last GH6 has probably already departed from the factory. New high end m43 camera, probably an upgraded GHx, with the new Pana Leica 12-35 mm f2.8 kit zoom, will be here in 3-4 months.

Possible/Likely announcement at CP+ in february.