Summary:

There are good reasons for Durham delaying indictments: Mueller SCO criminality and direct Clinton ties to Spygate.
Durham is almost certainly pursuing conspiracy and RICO charges against the Spygate conspirators and their funders.
The political implications of deferring indictments until after 3 November could actually favor the President.
As a chaser, a lack of indictments does not preclude a guilty plea or two before 3 November. That’s entirely possible, too.

The end.