It appears that the next game from Ninja Theory is currently in development

Ninja Theory is expanding its team, seeking experienced senior combat system designers proficient in Unreal Engine 5 and boss fight design. This suggests significant improvements to the combat system in their next project, potentially a Hellblade sequel or a new IP entirely.

The focus is on creating more diverse, intricate, and environmentally responsive battles. While the Hellblade series boasts impressive combat choreography, battles have been criticized for linearity and repetition. The new system aims to introduce complex enemy interactions, making each encounter unique. The ambition seems to be a system akin to Dark Messiah of Might and Magic, where varied environments, features, weapons, and character abilities contributed to dynamic and unpredictable combat.