My crackpot theory which is based on nothing but pure speculation is....Canon created a RF 35mm f1.2 already sometime ago, but it was huge, heavy, slow to focus and would have to be sold at over 5k USD in order to make any money from it. The canon marketing team, who were scared of the bloodbath that would come in the comment section of websites like this, didn't approve it's release. A decision was made to introduce a 35mm f1.4 (basically like the EF version that exists) to be released alongside the f1.2. That way any criticism of the 1.2 can be reflected with the 1.4 and visa-versa.
Joking aside, one thing that I would say is if at the end of this all we get from Canon is a 35mm f1.4, then it is likely that they tried and failed to make a 35mm 1.2 and that we probably will never see such a lens in the future. Otherwise it makes no sense that it would take this long to release.