Big 4 Demand Gone "Soft"

I began the interview process for an experienced hire role in December and everything went very well from the initial HR screen to the SM interview according to both interviewers. Then I received an email from a recruiter, my main point of contact, that demand has become soft and that they'll reach out with the next steps, which is a final onsite interview, once they see an increase in demand. I'm wondering if this has happened to anyone else and what their experience was like?