You've seen this before, but it's been slightly altered -- pants are now dark grey/black instead of blue (and feature additional details), with the addition of gloves and the reinstating of his necklace chain at his waist. His shoes are also his Final Fantasy VIII ones -- he's had them resoled in the time since, but that's all.
More or less, I wanted to convey that he's kept certain familiar items, and though he's deliberately chosen clothes that are """less him""", like Seifer he's fallen into familiar habits -- accessories, black colours, and signature iconograpy.
I'm not sure if I've ever actually said this directly, but the reason this particular outfit was chosen was to call to mind his childhood appearance, of an orange shirt and blue jeans. In Squall's case, he's just drawn to orange.