It’s still in production.

As Waltke clarifies in the interview at the link:

Q …When the removal from Paramount+ was first announced, Prodigy was reported to be cancelled, but technically that isn’t right is it?

A. Yeah, as far as I know. There was a lot of confusion because it was kind of announced alongside a number of shows that were I believe, officially cancelled. But at the bottom of some of those articles, you saw the caveat of like, “Oh, we’re actually still producing our show and we’re shopping it around for the potential for more episodes and licensing.”