It appears that the next game from Ninja Theory is currently in development

Ninja Theory is bolstering its team with several senior combat system designer roles, specifically targeting candidates proficient in Unreal Engine 5 and boss fight design. This hiring spree strongly suggests significant combat system improvements are underway for an upcoming project, potentially a Hellblade sequel or a brand-new title.

The aim is to evolve the combat beyond its current iteration, creating more dynamic, intricate, and environmentally responsive battles. While the Hellblade series boasts impressive combat choreography, battles have been criticized for linearity and repetitiveness. The new system will focus on deeper enemy interactions, ensuring each encounter feels distinct and memorable. The ambition seems to be a level of complexity akin to Dark Messiah of Might and Magic, where environmental elements, location specifics, weapon variety, and character abilities combined to create highly varied combat scenarios.