So! I'm someone who has been watching him since his youtube days and I've never really felt Conan has needed to really "come out", because he's never felt "in the closet" to me. I mean this is the boy who said back when he was like 16-17 that My Private Idaho was one of his favorite movies - definitely not a movie straight boys tend to pick out of a bunch. And I believe when he got to college he talked about writing a final paper (before he dropped out) that was about communication in the gay community (it's been a while since I've seen the video but I'm pretty sure it was specifically the gay community and not the LGBT community, not completely sure though) which, again, is not something someone who is not a part of that community would really do.
I think it's pretty likely that back in his high school days he wasn't kissing anybody, he said he didn't have much of a social life because he was making videos all the time. Do I think it's still possible? No. Do I think he's probably dated people? Yes. But I doubt any of it's been serious (which is a pretty common problem for gay men in general). He also says he doesn't like labels, and I feel like he means that more genuinely than some other celebs who just don't want to say they're straight and lose their gay (or straight woman) audience, whether he likes men, men and women, or whatever.
But he's a lot more private than he used to be, twitter chased him off pretty thoroughly back in 2020. And even during his youtube days he talked a lot about how he struggled to vlog because when he was busy he just forgot about it, and liked to experience a lot of important things for himself, unlike a lot of other influencer types, which is extremely respectable tbh. There were also a lot of fans who used to be pretty obsessive about his relationship with Manu Rios (honestly surprised nobody here has ever talked about that rabbit hole before), so I can see why he's become a lot more private than he used to be. I would definitely recommend watching his Zach Sang interviews if you haven't, because first they're funny as hell, and second they seem to step away from his more public persona. The recent one he talks about being in a "situationship" with someone for a while, and makes a comment about how he's not even writing about the guy he wrote Heather about anymore, but other people (but he's still probably not over that person).
Anyway, this was way longer than it needed to be, but that's just how I feel as a young gay man who has been a fan of Conan since I was like 13
And Now, I'm hoping to see more of his sexy rockstar era.