This is not true.
"On a more serious note, we are extremely excited to be able to share this with you. Children are something we have been working on for some time now and to finally see them implemented and working in-game has been a really rewarding experience. We have plenty to talk about in terms of
dynasties and how children will work as a feature in the game, but we will save that for a later date. "
“Currently my main focus is on the Children feature we've recently announced. To be more specific, the transition of babies into childhood and children into adulthood, where they will be positioned, how the player will interact with them etc. Besides that, I'm doing some adjustments to the Barter feature.”
`WILL THE CHARACTER AGE AND GET OLD SO THAT YOUR CHILDREN CAN TAKE OVER ONCE YOU'RE OLD AND DYING? DO YOU GET TO CHOOSE WHICH OFFSPRING YOU TAKE OVER AS?
“Yes! In Bannerlord, the player can die because of old age. At first, the player gets sick. Then the player’s hitpoints start to reduce daily. After a certain time, death occurs. During the decline of their health, the player can arrange his/her final wishes then, when the death occurs, the player selects an heir from one of his/her clan members that are suitable and mature. Then, the cycle continues. This process also applies by AI lords too. `
They've been working on this feature for a long time, and it's evidently not yet finished.
From dev blog 98
https://www.taleworlds.com/en/Games/Bannerlord/Blog/98
"Mount & Blade games have always primarily focused on the core gameplay mechanics over the visual appeal of the game world. "
Basically, if you're looking for Warband with updated graphics, you're out of luck, because the intention Taleworlds had with Bannerlord was to add new mechanics to the game. It seems logical that a game about being a "banner lord" is fundamentally about you playing as your banner, which is a progression on playing as the "war band" you did in the previous game (and before you mention the campaign, I think the storyline actually reinforces this point - the importance of your banner). You are no longer playing as an individual, or as a band of soldiers in Calradia, but are playing as the people who assemble behind your banner, including those who inherit it after you die.
This is why the clans feature was added, and why it is going to be central to the Bannerlord experience. It may not be your children who inherit, but a companion, but my point is the same. You're playing a dynasty, as represented by a "clan", in Bannerlord, not a character.
Now no one is asking for time to fly as quickly as it does in CK2, and getting the progression of time right is going to be an important challenge for the devs, because we all want sufficient time with our characters, and the ability to build relations.
If I may suggest a pace for the flow of time, it would be that of Romance of the Three Kingdoms, where you'll spend most of the game playing as your initial character, but if you go for long enough, will play as the child of that character, before the campaign generally comes to an end. This is faster than time flows at the moment in Bannerlord, but not that much faster. You have the time to develop relationships with other characters, and then your children can forge relationships. The transition from one generation to the next really complements the drama of the setting, without turning it into a hasty strategy game which skips through lives.
It would, however, be incredibly useful if the devs made the flow of time moddable without breaking the game, because it would then facilitate mods which add true multigenerational gameplay and also mods which basically do not have ageing in at all, allowing a more fixed timeframe.
