I read that the FAA has had this "in the works" since before the Presidential election.
But, it would have helped if they had at least announced it before the election.
Now, they have the prospect of being subjected to governmental direction by the person from industry with whom they have been arguing about their lack of timeliness and excessive bureaucracy.
Realistically, I don't thing an advisory board can complete the task before the Administration changes.
Even if they do, it won't do them any good. The FAA is in line to lose its space launch/reentry regulation authority.
Odds are that responsibility will be transferred to the Space National Guard.
en.m.wikipedia.org
Probably with co-located offices at launch sites and tasked with security as well as interfacing with Space Command, ATC , and Coast Guard if relevant. And doing Incident investigations themselves, instead of relying on the for profit companies. Despite the name, their duties should more closely parallel the Coast Guard.
It's pretty clear that FAA has neither the competence nor the inclination to be unbiased monitors of the nation's access to space. As proven by their wacky requests of SpaceX ("kidnapping" seals? Donating to environmental activist orgs?)
Might as well turn it over to the military, just like ports and coasts are the province of the coast guard. And with launches well on the way to hundreds a year from a half dozen companies and sites, the FAA culture is not a match.