Chinese gamer here. Saw some discussion in this
post about Black Myth Wukong not having discs in their physical editions and realised there's a misunderstanding/mistranslation.
It's true that there'll be no discs in the box but they are actually referring to the limited Deluxe Edition and Collector's Edition
here. As you can see they come with many other collectibles and are much more expensive than the regular game, so it's not the regular physical edition you buy from a shop. As far as I know they are the only two physical editions Game Science is releasing now.
For the regular physical copies they are simply delayed due to logistics issues. You won't be able to buy the discs at launch, but it'll also not be activation codes in a case.