There is absolutely nothing known about what the next year will hold, except that everyone can pretty much be assured that it will be the show's final season on the air.
Will Clark actually wear the costume? Probably not. Will we see the costume? One would imagine it will be there in the final shot of the final episode.
There are rumors going around that they're negotiating with Michael Rosenbaum to return as Lex Luthor for nine or 10 episodes. It would certainly seem like an appropriate way to wrap things up.
And then there was the recent reference to a coming "apocalypse." Popular conjecture is that that should actually be spelled Apokalips, as in Darkseid.
Again, all conjecture at this point, but at least the show will be coming back to (hopefully) go out the way it should.