Seems that she’s not sticking around for Season 8.
https://www.cbr.com/arrow-felicity-smoak-departure/
I know there are a lot of passionate fans on both sides of the Olicity divide, so we’ll probably get mixed reactions from all angles.
Nevertheless, she was one of the cornerstone characters of the burgeoning Arrowverse, and her absence will most certainly shift the show’s center of gravity in Season 8.