Will there be an update for FME 2019 to make it compatible with ArcGIS 10.8, or do I need to wait until the release of 2020?
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ArcGIS 10.8 is not yet listed on the official page for FME / ArcGIS compatibility:
https://knowledge.safe.com/articles/1517/notes-on-fme-and-esri-versions-and-compatibility.html
You may want to contact your FME reseller or Safe Software directly for more information.