It seems to be the trend for a lot of these types of games, I guess 2D platformers are just easier to make if you want to make some money off an IP

This is a port. Ty 4 originally was a Windows game from 2015.

The whole context is pretty interesting. The studio was one of the few in Australia and Ty was arguably the first Australian videogame IP. The games were always low budget and the studio took on a lot of cheap licensed games in order to keep the lights on.

Like a lot of 3D platformers from the time, they let another studio make quick, cheap, 2D versions for the GBA. By 2015 Krome was really struggling. Ty 3 flopped and Microsoft pumping publishing money into games for the Microsoft Store, and so the studio cranked this out.

From a technical perspective this probably could've been a launch title for the Switch. I'm guessing there were some business or legal issues why it took so long (this release is also riding the coattails of the remasters of Ty 1&2, as part of the larger industry trend of 3D platformers coming back).