Much more at the link:
https://www.usgamer.net/articles/the-last-of-us-part-2-no-multiplayer-mode-faction
EDIT: Confirmed by Druckmann himself in a preview/interview piece with The Telegraph
https://www.telegraph.co.uk/gaming/...t-2-exclusive-interview-neil-druckmann-ellie/
EDIT 2: It should be noted that, despite this piece of news, Naughty Dog currently has open (and recent) job listings for multiplayer programmers specifically for The Last of Us Part II, so take that how you will.
http:///YVFd.png
EDIT 3: Naughty Dog responds
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