So... no, we would not cancel our sessions.
This pandemic is a lot of media hype. I am not saying it isn't there or real, and I feel horrible for the regions affected, but media feeds into the fears of the people. I do a lot in the stock markets, and this is the kind of stuff that drives me crazy! People are stockpiling supplies like it is the end of the world.
If the news was broadcast in grayscale and not color, people wouldn't be nearly as freaked out. Consider this revised map:
No reaction, right? Could mean anything.
Now, look at site like Wikipedia even, notice how the map is just shades of red?
Our reaction is something scary is going on. According to this map, it looks like all 1 billion plus people in China are already gone!
And that causes fear and panic instead of rational reactions.
Certainly in areas where the virus is present, people need to be cautious, but media pushes it overboard in my estimation.
So, we will continue to meet to play D&D.