As you already know, Trials of Osiris were delayed last week because Bungie needs to fix the Shadowshot Glitch of hunter. Many believed that after the hot fix, the developer will then release Trials of Osiris and, many expects that it will be coming this weekend, together with the release of King's Fall Hard Mode.
BUT IT LOOKS LIKE THAT'S NOT THE CASE!
When Lars Bakken (Bungie Designer) was asked by a fan (Adictos a Destiny) about Trials of Osiris possibly returning this Friday, he then replied that they are not planning to release the new Trials of Osiris alongside with the hard mode of King's Fall Raid. You can check out their conversation below:
Well IMO, who needs Trials of Osiris when we get to have hard mode of King's Fall Raid this weekend :). I think that Bungie did delayed trials of Osiris because HM is coming this week. The main focus this weekend is hardmode of King's Fall and when you release ToO alongside with this big event, well, I think it will be left unnoticed. Probably, they will release Trials of Osiris right after the heat of King's Fall Raid has cool off.