> Since Japanese computers use one character to represent the entire era name (compressing Heisei into ㍻ rather than 平成, for instance), Unicode needs to set the standard for that new character. But it can’t do that until it knows what it’s called, and it won’t know that until late February at best. Unfortunately, version 12 of Unicode is due to come out in early March, which means it needs to be finished before then, and can’t be delayed.

> "The UTC cannot afford to make any mistakes here [ . . . ]

https://www.theguardian.com/technology/2018/jul/25/big-tech-warns-japan-millennium-bug-y2k-emperor-akihito-abdication

Yes, by coincidence the Unicode Technical Committee is abbreviated UTC and tjey're affected by this time-related event.