This is an offshoot of more mainstream Regional Mexican, where the style incorporates reggaetón elements. So, it is indeed a variety of Regional with reggaetón influences in the music.According to the article referenced in the original post, Alarcón said they’d be offering a “New fusion of regional Mexican with urban.” That seems different from “Urban Regional Mexican.”
I could not find online any mention of a format called Urban Regional Mexican,” or anything similar.
An example of the reggaetón influence in a different direction is the most viewed non-children's song ever, "Despacito".
This is a pop and reggaetón blend; by purist standards it is not really reggaetón. In the case of "Mexitón" (I made this name up) it is a flavor of an existing style.
There are no such formats anywhere, so you won't find any references online. This is SBS creating something new and trying to start a buzz in the industry to make themselves look good. Heck, even the name "Regional Mexican" is a fake one, as in Mexico itself the variety of formats that march under that banner do not call themselves "regional Mexicano"... they use "grupera" generically or terms like "ranchera" and "norteña" specifically.