Previously, Microsoft said that they will end support for Skylake-based processors on Windows 7 and Windows 8.1 before the OS's extended support date. Later processors, like Intel's Kaby Lake and AMD's Bristol Ridge, will not be supported on 7 and 8.1 at all. To use those processors, their associated devices will need to be running Windows 10 (or, you know, Linux or something).
This has just changed for Skylake, but not for Kaby Lake and Bristol Ridge. Skylake will now be supported through the entire life-cycle of Windows 7 (January 14, 2020) and Windows 8.1 (January 10, 2023). This is particularly good because Skylake was already released and in the hands of users when they first announced pulling the plug. Now users will know before they purchase their hardware (albeit not before many have purchased a retail copy of Windows 7 or Windows 8.x with transfer rights that intend to continually upgrade beyond Skylake or to AMD's Zen architecture) that Microsoft will not support it outside of Windows 10.