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Is is unusual for Asus to not release a router firmware update for over 2 years?

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The device in question is RT-AC59U V2. It seems like an updated version of RT-AC58U but rereleased in 2019/2020 in certain markets. The last firmware update for then a 1 year old new-to-market device was back in Oct'20. It's Dec'22, and I'm sure a lot of security vulnerabilities would have surfaced over past two years, and yet I haven't seen Asus releasing any new firmware update to not just fix any such vulnerabilities, if any, as well as update base kernel of these devices.

Is this device forgotten? Does Asus often neglect to support their newly released devices (even when they are still being sold)?
Asus has been working on releasing its 388.xx level firmware for AX class routers. AC class routers will be getting security updates only as needed.

What security vulnerabilities do you think this router has?

This is a very low-spec device. I wouldn't expect the kind of support you are for it.

I'm sure when they get around to it (limited resources, after all) they will release an update for this model too. I don't believe it would have the label 'critical update' though.

Be patient and I'm sure you'll see updates again for this model soon(ish).