Apple appears to be on the verge of discontinuing the iMac Pro, with the store page for the next-generation Mac all-in-one including a slogan “While supplies last” and just the basic model with no custom configurations available for purchase.
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The MiMac Pro was released in December 2017 and, although there have been some adjustments to the settings available over the years, it has not received substantial hardware updates over its lifetime. As a result, we have recommended that users do not buy the iMac Pro for some time, as a standard next-generation iMac currently offers better value.
There have been some rumors of an updated aniMac Pro over the years, including from analyst Ming-Chi Kuo almost exactly a year ago.
It is unclear whether the iMac Pro is being discontinued entirely or whether Apple is selling through existing stock prior to an update, but the unusual observation about shrinking supplies suggests that the machine may indeed be on the verge of complete discontinuation. If an updated version is coming, it looks like it may not be ready to be released for some time and there may be a gap in availability when the current model runs out.
(Thanks, Ben!)