Then hopefully you and others can organize yourselves to continue on with the work outside of the CPython repo.
In CPython’s repo, yes. Whether others in the community organize to keep it going is up to the community.
The point of the PEP was to justify the JIT work staying in main, so the withdrawal of the PEP means it will come out and live somewhere else (“We’ll make the reference implementation available and link it from the withdrawn PEP so others who are interested can explore and build on that.”).