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

Ninja Theory is bolstering its team with new job postings for senior combat system designers, specifically those proficient in Unreal Engine 5 and experienced in crafting epic boss fights. This suggests significant improvements are underway for their next project, whether it's a Hellblade sequel or an entirely new IP.

The core objective is to revolutionize combat, making encounters more dynamic, intricate, and responsive to the environment. While the Hellblade series boasts impressive combat choreography, battles have been criticized for linearity and repetition. The new system aims to introduce richer enemy interactions, ensuring each fight feels distinct and memorable. The ambition seems to be a system akin to Dark Messiah of Might and Magic, where diverse environmental elements, location specifics, weapons, and character abilities create uniquely challenging and engaging battles every time.