In English, no, the phrasal verb "to go out" (sortir) does not mean the release of a movie or a book.
In French, however, I think that the verb "sortir" can be used to mean the release of a movie or a book. Examples from the internet:
- Le film sort demain = The film comes out tomorrow
- Le film sort en deux jours = The film comes out in two days
- Le film sort pendant les fêtes de Noël = The film comes out during the Christmas holidays
- Le film sort finalement en Italie = The film is finally being released in Italy
- Le film sortira en salle partout au Québec le 28 mai prochain = The film will open all over Quebec on May 28.
Although I believe that at least some of the examples marked "interdites" ("forbidden") are actually optional. Using the liaison in such cases is, I believe, considered very elegant/pretentious, and skipping them is more common.
"To go out" est un verbe à particule (un verbe qui est suivi par un autre mot). Le mot "out" ne signifie pas "dehors" dans ce contexte.
"To go out" is a phrasal verb (a verb that is followed by another word). The word "out" does not mean "outside"/"dehors" in this context.