Canon has many patents, very few of which become products.
The 85L II is unlikely to be updated soon. The 85/1.8 is an older but very good lens, maybe we'll see an 85/2.8 IS in keeping with the current trend?
I don't think Canon would replace the old 85/1.8 with a slower lens. Unlike the wide angles and 'standard' 50, the raison d'être of the 85 mil is it's fast aperture. I'd be more than happy if Canon introduced a really stellar
50 mil f2 IS to complement the recent wide angle IS group, but the 85, assuming it replaced the old one which is likely, is a different emphasis. I'm sure eventually a new 85 IS will be introduced but it may be some considerable time.