"When will Photon be released for new Minecraft version?"

Shader packs are generally not very dependent on MC versions; as long as Iris is available, Photon should just work.

Iris (recommended)
- Iris is a modern shader loader with far better performance, mod compatibility and developer features than OptiFine
- Some features (Colored Lighting) will only work on Iris
OptiFine

Nvidia
AMD
Intel
NOT compatible with Apple GPUs (Metal) by default
- Disable SH Skylight and Colored Shadows

Settings menu translations: NakiriRuri and OrzMiku (Chinese), Jmayk (Italian), Timtaran (Russian)
Emin - Shadow bias method from Complementary Reimagined (fully fixes peter panning and light leaking underground!)
DrDesten - Depth tolerance calculation for SSR (helps to prevent false reflections)
Jessie - f0 and f82 values for labPBR hardcoded metals
Sledgehammer Games - Bloom downsampling method used in Call of Duty Advanced Warfare (described here)
http://momentsingraphics.de/ - Blue noise texture
NASA Scientific Visualization Studio - Galaxy image

Photon Shader