there is no public announcement yet, player estimate is in around 3 months, you should keep an eye out on the discord announcements channel for that tho
The point of reset is to clear everything so that the realm can be updated and more people will start playing. Some people don’t want to join nearing the middle/end of the season and others get worn out quite quickly which is why resets are necessary and many look forward to them. During resets you get to keep your rank, cosmetics, cubits, and svas while everything else will be reset/removed.