(1) Americans love to add -wise to many words because it's
such a short way to say something.
(2) I think that your sentence means something like:
As far as the engagement is concerned, it is obvious that Jack and
Salma have decided not to make any plans at this time.
(3) I love desserts. But health-wise, they are not the best
possible things to eat. = not good for your health.
(4) I love print newspapers. But business-wise, they are not doing very
well. = Many print newspapers here in the States are losing readers and
advertising. Some are closing down.
(5) Tony is a nice person. But language-wise, he needs some
improvement. = His knowledge (of grammar or literature or something
else) is lacking badly.
P. S. Some people really dislike this use of -wise.
Student or Learner