OnePlus showed off official renders of the upcoming 7T detailing the radiant matte back panel and the triple-camera setup in a circular housing. While only the back of the phone was shown in renders, design sketches seem to indicate that the OnePlus 7T will continue to sport a tear-drop shaped notch.
https://www.notebookcheck.net/Official-renders-of-the-OnePlus-7T-confirm-a-circular-housing-for-the-triple-camera-setup.434930.0.html