Matt Reeves says “The Penguin” takes place during the few weeks after The Batman.

The Batman 2 continues after The Penguin,

“The Penguin plays out over the next weeks that take you toward the end of the year. We don’t play Christmas or New Years, but we’re getting there”. Matt Reeves on the villain for ‘THE BATMAN 2’

“I want the emotional part of the story to be Robert Pattinson’s – to be Bruce & Batman’s… I’m excited by the antagonist of the next movie, but I don’t want Batman’s arc to step back to allow space for another group of characters.”