I don’t think so. Transfer applications would be 2022/2024 – people transferring over in their Junior year. Or, maybe 2022/2025.
I’d wager their freshman class size is a combination of “housing” and “class space” and “number of seniors a department can properly handle in a given year”.
And, possibly, it might just mean that people in the transfer pool are finding they have better odds of acceptance. Not that there will be fewer transfers.