UPDATE 11.30pm: Following Fall Guys' free-to-play announcement earlier this evening, developer Mediatonic has provided some additional details relating to the PC version, confirming the game will be delisted from Steam as of 21st June - although existing users will be able to continue playing on Valve's platform.
The news isn't hugely surprising, of course; Epic Games acquired Mediatonic in 2021, and while the developer insisted Fall Guys would "remain available on Steam" at the time, the money was on it following a similar trajectory to Rocket League - which ended up ditching Steam in favour of the Epic Games Store after it went free-to-play following an acquisition by Epic.
As so here we are; as of 21st June, when Fall Guys is delisted on Steam, new players will only be able to access the game by download its launcher on the Epic Games Store. Existing Steam users, however, won't be forced into a mandatory move and will able to continue playing as before, with Mediaonic promising the Steam version will "continue to receive all the usual updates", including new seasons, patches, and features.