I can only help with my web search skills.
Fantasy Fan discusses the project, but this is an article from 2009. The Malazan Project forums is pretty dead, though there is recent activity. I suspect that the organizers of the MMO and RPG project aren't really doing a great job.
Malazan Empire is an active site dedicated to role-playing in Erickson's world. However, discussion of a dedicated Malazan RPG hasn't happened there for years.
Douglas Walker was working on a Malazan RPG. I don't know if he is associated with the Malazan Project, who are (as far as I know) the only people with rights licensed from Erickson. Walker talks about his personal project in a discussion thread on the Malazan Empire Facebook group.
As far as I can tell, there is not a well-established Malazan RPG project anywhere. It seems ripe for the picking. If one were to present a reasonably strong proposal to Erickson, he might hand you a license.