There isn't a section for this, so I figured to ask here. Haven't heard much of the game recently, a google search states release "later this year", is that still on track? Is it coming to Steam? Any place that acts as an actual good source of information on this game?

It's probably coming no earlier than Spring 2020. I say that on the basis that there is no section on the Larian forums or a Steam store page, not any additional information or other trailers. All that combined which indicates that there's no priority for getting those up, and those are important for marketing purposes.

There will be more information announced 'soon'.

Soon ™

"Soon" is definitely a thing, though. A thing that might be less ephemeral, well, soon.

There was a tweet a few days ago possibly referencing Fallen Heroes.

When there is something to announce it will be shared on Larian's social media (Twitter / Facebook), presumably the Larian Gazette newsletter, and a forum will be added, etc.

I knew it.

https://pbs.twimg.com/media/EG6pkuKXUAEcsGb?format=jpg&name=large

Fallen Heroes is put on hold ... "for an unspecified period of time". I guess that's slightly better that outright murdering it *cough*DragonCommander*cough*, or cancelling it, but it looks like any chance for a 2020 release is gone.

I doubt we will ever see it again, games that were put on hold rarely resurface.

As mentioned in the official message - Fallen Heroes is currently put on hold.
Here is the link to the full message (the same as one that was posted by Stabbey) posted above.

http://forums.larian.com/ubbthreads.php?ubb=showflat&Number=656219#Post656219