Here is my opinion of where we are:
The primary tactic of Republican politicians is to __always__ go on the offense. Never confess, never compromise, always attack. We have to understand that underlying principle when we examine where we are with the Epstein files. It explains both why they tried to redact photos of Trump and why they added irrelevant photos of Clinton.
It's also why Trump months ago ordered the DoJ to investigate __only__ Democrats associated with Epstein, i.e. any Democrat at all who happened to know Epstein has been constantly investigated with tons of information accumulated, including rumors and propagandized photos made to look like something untoward happened.
It is no coincidence that Trump recently announced something to the effect of "Oh, by the way, the DoJ found there were millions more documents in the Epstein files." Those documents are the ones they've been gathering and manipulating in order to make the Democratic Party look bad. Again, this is the guiding principle of how they publicly communicate, especially Trump. They want you to ask for the 99% and they will give you a propaganda package each time they make more public.
So, what are they waiting for?
Two issues: (1) timing: they will do this at opportune times such as their back is against the ropes, eg. when they get called to Congress to explain why it hasn't been done they could show up with Democratic congress people in the package they deliver, the very same congress people on the committees asking questions. They obviously also hope they can do a big release against the Democrats just prior to mid-terms and could possibly couple the releases with issues of warrants or contempt charges for failing to show before a congressional committee of Republicans. Their hope will be to hide Trump's wrongdoings and increase Democrats' unfavorability. If they issue warrants they won't care if any cases get thrown out so long as that happens __after__ mid-terms; (2) it takes time to redact from documents and photos in manipulative ways to make Democrats look bad and to make Trump look innocent. Even when they went through it with a fine-toothed comb last time, they accidentally released photos of Trump and then had to remove them.