No. FreeCAD Logo Design challenge is not tied to FreeCAD releases. It's a yearly event. It usually opens once one of the eager designers suggest a new FreeCAD Logo and ends by the end of the year. Such things need to have a beginning and an end.
Note that the results can be unexpected. Like gorgeous new home page, style sheets, icon packs ... and things like that can emerge. There is usually some opposition involved, though. But that has improved much in the past years as we have matured in recognizing on just how important design related progress is to FreeCAD project.