My best guess as to why there's not posts being featured.
Currently Meta is short on mods, long on flags and long on controversy. It would be difficult under the current climate for mods to make decisions over which questions to feature. From reviewing the flag queue on Stack Overflow, I can only imagine what this current flag queue is like. It's probably overwhelming to all the people currently handling it, including the community team. The same reasoning would go for the CMs featuring stuff. We know they're hysterically busy and people are feeling ignored, when they're probably snowed under. If they've adopted an informal policy for featuring questions atm there's been no mention of it. This post may prompt someone to feature something.
An update in response to your comment.
Interestingly, I have flags pending review and the actual action has been taken, but the flag not handled. I make a point of retracting those flags to reduce the flag queue. I suspect it's just people being time poor.