Bungie is working on a brand new IP, and back in June 2018 they received a $100M investment from NetEase for a series of projects. Only after a few months following this investment, there was a project called Matter found out, and Bungie decided to stay quiet about this one for a very long period.
Finally in early 2021, they announced their plans to move into a bigger office in order to make larger plans possible to carry out. The plans included at least one new IP by 2025.
Today, a new job opening from Bungie shows they are looking for a Lead Gameplay Engineer for a third-person action game. Same job opening had also an earlier version which mentioned that the project will use Bungie’s own Tiger Engine, also used in Destiny 2. Reason for the modification remains unknown. If these points above are matching each other, we might hear about this IP during 2023 though.
Currently, Bungie is working on upcoming Destiny 2 expansion called Lightfall, planned for a release on 28th of February.