The Macotakara report cites supply chain sources when saying that we should expect an Apple A15 chip to be part of the new tablet. Support for 5G is also expected, while an upgraded front-facing camera should enable support for Center State, too.
Via machine translation:
According to reliable sources in China, there is a possibility that the iPad Air (5th generation) will be announced along with the iPhone SE (3rd generation) in Spring 2022.
As with the iPhone SE (3rd generation), the design of the chassis will remain the same, and the specifications will be similar to the iPad mini (6th generation), with an A15 Bionic chip, 12MP ultra-wide front camera, quad-LED True Tone flash, and 5G support.
The current iPad Air is perhaps the best iPad for the majority of people right now and the updated specifications will drive that point home. The addition of 5G will be popular among those who want to use an iPad Air on the move, while the A15 processor is a welcome upgrade for gamers and power users alike.
If Apple is indeed set to announce a new iPad Air alongside the refreshed iPhone SE, a timeframe of March or April is likely. Expect an online Apple event to announce both products, and possibly more, during those months.