There has been a lot of speculation on social media about the status of The IIConics with some suggesting that an injury to one or both of them might be the reason why they've been off WWE TV.
Billie Kay and Peyton Royce haven't wrestled since November and they've been off all live events since that time and they were not part of the Royal Rumble pay-per-view.
Whatever the situation is with them, it looks like they will be back at some point. Dave Meltzer noted on Twitter that a decision was made to take them off TV. There are no details but it looks like repackaging them could be an option.
2019 did not work out as originally planned for The IIConics. They won the WWE Women's Tag Team Championships from Sasha Banks and Bayley at WrestleMania but their reign was treated as an afterthought.
The reason for this is because the original plan was for The IIConics to feud with the returning Bella Twins into the summer. However, Nikki got a bad medical diagnosis on her neck and that nixed plans for the feud. Nikki and Brie were originally supposed to be involved in a segment with Royce and Kay on the SmackDown after WrestleMania.