The 2-night WrestleMania on Saturday and Sunday makes it difficult for WWE to fit in both the NXT special and the Hall Of Fame ceremony so this year, it looks like they may have to tape the ceremony.
PWInsider is reporting that the preliminary word coming from people in WWE is that the current plan is for the 2022 Hall Of Fame ceremony to air on Peacock and the WWE Network on Friday, March 31st, which would be the same day as Friday Night SmackDown.
It has not been confirmed if the show will be taped or if it will air live but the current working plan is for the ceremony to air after SmackDown goes off the air on FOX. This means that the Hall Of Fame ceremony will go head-to-head with AEW Rampage from 10 to 11 pm eastern.
Things are still subject to change as WWE works on locking in their Mania weekend plans. On Monday, WWE announced that there will be an NXT special event (previously called NXT TakeOver), and presumably, that would air on Thursday night on Peacock/WWE Network.