It is not you. It is me. Is that code for: There already somebody else involved?

It is, so is
It's not me, it's you, .. and
I need alone time, ... and
I need to do me, ... and
We need time apart, ...

Yes, definitely. Or, more simply... you're no longer of of any use to me.

Or it’s actually you and they don’t want any hurt feelings

It's code for (I don't need this).

Haha probably..