They're not holding the game back because they think the content is inappropriate, they're holding it back because they don't think it will sell well enough in western markets anymore because most people aren't interested in that type of content these days. I kind of agree, the modern Tomb Raider games changed the way Lara Croft is depicted for the same reason.

The main appeal of games existing just to show hot women is pretty much over. It's not the 90's anymore, teen boys and adults have easy access to the internet now and can look at real women at any time for free.