IDW has been releasing hardcover reprints of the Chester Gould’s beloved comic strip since early 2012 (see “IDW's Dick Tracy Revealed”).
We asked IDW about the rights to the property, since Hermes Press recently announced an original graphic novel for summer 2019 (see “Dick Tracy Is Back”). IDW responded that it had exclusive rights for "the next few years," and that it believed that the Hermes release had been delayed.
We asked Hermes Press Publisher Daniel Herman about Dick Tracy publishing rights and the schedule for the Hermes OGN and got this reponse: "First, it's good to see a richly deserved resurgence in the great Dick Tracy; that's good news for all fans of Chester Gould's great detective," he said. "We're glad to hear that IDW will be coming out with a series of books celebrating this great character (and equally fantastic cast of characters); that being said we can only hope that our version, when released in the future, will keep true to the spirit of the original and expand on the canon of one of fiction's greatest detectives!"
So for now, we'll watch for new original Dick Tracy material from IDW, and assume that any Hermes release tied to the property is further out.