Every subgenre comes and goes while some stick around, that’s usually how it goes. Most importantly, there are those that doesn’t die per se, just that they stop becoming mainstream and popular. For example, prog rock is still being made but it isn’t the cultural powerhouse it was back in the 70’s, same thing with punk rock despite people saying that “punk is dead”.
Same thing applies with funk. New jack swing stopped being popular by the time gangsta rap and R&B became the dominant genre for the urban crowd, though I don’t know if it’s still being made cause I haven’t checked. Funk is far from dead judging by Silk Sonic’s debut album getting all the praise last year.