So far, the new project from Obsidian Entertainment and Private Division has been roughly announced for 2019/20, but a more precise date has now emerged.
The official Steam database briefly listed August 06, 2019, as the release date, but this was removed just a few hours later, as documented in the changelog. Whether this was an error or premature information remains to be seen. An official announcement is likely only expected in the coming months, assuming the release date is indeed correct.
In The Outer Worlds, players awaken on a lost colony ship and find themselves in the middle of a vast conspiracy that could mean the colony's destruction. As players explore the outer reaches of space and encounter various power-hungry factions, they determine the course of the player-driven storyline through their custom-created character.
According to Obsidian, The Outer Worlds will be released in the upcoming fiscal year, which ends on March 31, 2020.