And yes, it will be compatible with the Steam Deck. So far the game has been released on PS5 and PC via the Epic Store.
The Steam release was announced at the Final Fantasy 7 25th anniversary celebration, along with news of other games coming soon. That includes the third season of mobile battle royale Final Fantasy 7: The First Soldier, which adds the Midgar Plateside map, water materia, the Machinist style and more. Also for mobile is Final Fantasy 7: Ever Crisis, a mobile remake of the original game. Here first gameplay was shown, including the revamped visuals of the overworld (that still maintain a certain cuteness) and an overhauled battle system, complete with Intergrade-esque character models. A closed beta will be available in 2022 for iOS and Android. Additionally, the celebration included news of a Crisis Core remake, as well as the second part of the Remake project - named Rebirth - that’s due in winter 2023.