Revealed a few months ago by a group of developers known as Codeless Studio unofficial remake of Silent Hill, created through Unreal Engine 5had an extended preview presented. There are no plans for an official release, as the team doesn’t want to get into a legal fight with Konami.
Pre-alpha content shows Harry Mason exploring Midwich High School while looking for his daughter, with some basic gameplay mechanics.
There is speculation involving multiple franchise projects at the Japanese studio, including a remake, a full sequel, and an episodic series focused on the story. sources of VGC indicated that the team Supermassive Games from Until Dawn has already been involved in some capacity in this third project.
In any case, nothing is official, although it was said a few months ago that Konami looks set to resume major franchises in the coming years.
The last attempt with the franchise took place in the legendary demo developed by Hideo Kojima, shortly before his troubling departure from the studio.