It looks like the next full-fledged installment of Assassin’s Creed will really unfold in Asia. This information has been shared by Kotaku.
According to Kotaku sources, the game will feature a large open world and will be codenamed Project Red. It has not been reported which country the project will talk about – perhaps Japan. According to the words of journalist Jason Schreier, the project will become part of the game service Assassin’s Creed: Infinity.

According to other rumors besides Project Red and Infinity, another game in the franchise, is in development at Ubisoft, a non-open world stealth action game called Assassin’s Creed: Rift. It is expected to be announced on September 10 during the Ubisoft Forward presentation and to be released in 2023-2024.
Previously, Ubisoft canceled 4 games at once, including: Ghost Recon: Frontline and VR version of Splinter Cell, and also announced the transfer Avatar: Frontiers of Pandora. A craftsman from Epic Games showed what racing should look like on Unreal Engine 5
Source: VG Times