CI Games recently confirmed that they are looking for Lords of the Fallen will be working on other projects that build upon the action RPG. A trademark to Death of the Fallen This connection may be precisely what's being established.
The Trademark was made public on January 03rd and was Kurakasis discovered on X, which may be the Codename: Project III CI Games has already confirmed that this is an action RPG built on Unreal Engine 5.
The future titles of CI Games with details (based on company public presentations, trademarks, job listings, and LinkedIn profiles):
— Kurakasis (@Kurakasis) January 5, 2024
🟪Codename: Project III
Sequel to Lords of the Fallen
Likely titled:
DEATH OF THE FALLEN
🟥Codename: Project Survive
New IP, open world… pic.twitter.com/tQFtWQW0aD
Last November, CI Games spoke about Project III, which is intended to "benefit from the recognition and success of Lords of the Fallen." At the time, they mentioned more ambitious gameplay options aimed at appealing to a wider audience.
The development itself should benefit from the extensive insights, experience, and knowledge gained during the development of Lords of the Fallen has collected. The release is probably planned for 2026.
Overall, CI Games is quite busy. Besides the aforementioned... Project III We are currently working with different studios on the project. Codename: Project Survive, an open-world horror game, codenamed: Sniper Ghost Warrior Next, as well as a new PvE multiplayer shooter called Codename: Project Scorpio, which is being developed by Underdog Studio.
CI Games itself has not yet commented on a successor to Lords of the Fallen more precisely, why the name Death of the Fallen is still unconfirmed.

It's a shame that the first part is always overlooked like this (not referring to you, you even included it as a news image even though the new Lords of the Fallen is getting a sequel, if that's true).
Lords of the Fallen was really awesome back then. I couldn't get into The Surge 1 and 2 at all. I found it lame, the style wasn't my thing, the gameplay was awful... just a game with no added value. Now they've made Atlas Fallen and fallen flat on their faces again. Why can't Deck 13 just make something like Lords of the Fallen? No open world, no cyber stuff... just awesome, disgusting enemies, awesome armor, smaller levels with secrets. It was the perfect formula... after that, well, it's all explained above.
The new part is from different developers and apparently has massive technical problems and questionable design decisions. What a shame…
I would have loved a sequel to the first original Deck 13 game… but it probably never will happen.