Sony Santa Monica Studio are hard at work with now with the new God of War game. Widely believed to be called Ragnarok, their latest entry is due for release later this year, so its unsurprising that Santa Monica are now looking towards their next project.
Posting a job listing for a Senior Character Concept Artist, directly on their site, Santa Monica Studio's description talks about this role being specifically for “the development of a new unannounced title", one that's set within ‘fantasy-based world.’
New Job Listing Suggest God Of War Developer’s Next Game Is Set In A "Fantasy-Based World"
Detailing the requirements further, Santa Monica also talk about seeking someone with “strong design skills with the ability to render realistic believable fantasy-based characters, creatures, and props using contemporary industry standard tools and techniques."
Outside of Kinetica, Santa Monica's primary focus has been with God of War since it first appeared in 2005, having launched all major entries, outside the handheld spin-offs. As such, its likely this could be related to a further sequel, but the studio also have a history of co-developing other projects.
Either way, we'll likely not receive any official news until after Ragnarok's release.