I heard that the Shrek balloon will return to Macy's Thanksgiving Day Parade and it tells me that there is gonna be a new Shrek movie in development soon and I would love to know if a new Shrek movie is currently in development?

Yes, a Shrek 5 is in development. We've actually known about it for some time now, but the film has faced countless delays, unfortunately. Another thing we do have a "Cast Announcement" video of sorts about the film.
https://www.youtube.com/watch?v=KbiwL74KyJQ