This has been discussed already. What people are talking about (in regards to the console) is a re-release of TellTale Game's version that they released back in 2016. Several moderators in a few threads (Roland, Meganoth, and Laz Man) all confirmed that TFP are not releasing any updates to the console version this month or have plans on doing so at this time.
In a previous developer stream, they mentioned that they have started working with Unity on a console version but everything is right now just behind the scenes, looking at where they are and what they need to do. They haven't even released a publisher that they are going to work with in regards to the console version. The plan so far is that a console version would not come until after PC goes Gold, and it hasn't been communicated yet if that will require a brand new game or if they are able to update the existing 2016 game.
If they were planning on releasing a console version this month or this year, I think they would have been communicating it out to everyone, not having people go to 3rd party websites / stores in Europe about the release. I checked TFP Official Twitter and not a single announcement about console updates being released this month. So either there isn't one, or they are lousy about marketing their own game (and obviously I believe the former).
Also, I noticed this today on one of the sites promising a 8/20 re-release
Please note : Preowned versions may not include additional content.
2 - that re-purchasing the game will be required to receive forthcoming updates?
Did a YT actually imply that you had to buy the game again just to receive upcoming updates? If so, that is the silliest thing I have ever heard.
If TFP were updating TTG version, then you wouldn't be required to purchase the game to get updates for it. They would roll out for the game you already have. What they may be confused about is that since the PC version is so far advanced compared to the final version the TTG updated to, Microsoft and Sony rules might not allow them to bring it up to the same as the PC version. There also may be hardware limitations that would prevent the older console generations from being able to play the latest version.
Best piece of advice - If the Pimps have not broadcasted this information through their official channels, ignore it.