The developers from Bloober Team took part in Summer Game Fest and announced their new Horror Layers of Fears as part of the past show.
The first trailer that was shown to us demonstrates an impressive graphics, and also reports that the project is being developed on the brand new Unreal Engine 5. The video calls the game Chronic Psychedelic Horror, and you can familiarize yourself with it below.
The first game of the Layers of Fear series was released in 2016, and her sequel Layers of Fear 2 became available in 2019.
The release date of the new Layers of Fears has not yet been named, and therefore it remains only to wait and believe.