Now that 1.0 and 42 are "set for next year", we may get a glorified beta for any or both, assuming half of what they have announced now was more than the last 10 years of snake oil marketing.
SQ42 is announced for 2026.
1.0 of SC has no date but at least it has roadmap for 1.0:
Core features missing till 1.0:
- maelstrom damage system (unified force based damage system across all items/ships/people/structures)
- engineering (move ships and structures to resource network)
- base building (both on planet and in space) and crafting
Content missing:
- 5 systems total (2 done already)
- main story akin to SQ42 + sidequests which will work as tutorial and introduction.
- guilds + expansive missions system for all of them
It's getting close to feature complete but content wise it will need a lot of work so minimum 5 years assuming features won't slip it like rest of development.