Bicycle Network (I know, I know) is saying George St will be closed to cyclists after the light rail is running.
The document they cite (from 2016 Arup report) does say in section 4.1.1, "informal cycle connection will no longer be available" between Hunter and Bathurst. But it also says they "won't physically exclude cyclists from the LR alignment".
Not sure what that all means, but wouldn't put it past the State Govt to actually ban cyclists on George and also Devonshire Sts. They repeatedly cite safety concerns on tram tracks for not encouraging bike use on these streets.
At least BNSW put in a strong or at least lengthy critique of the LR project as it affects cyclists, see the Appendix.