Guerrilla Games are working on a new IP. The study started that production two years and half ago. Hence, we should see this game at E3 2014 in an advanced stage of development.
Aside from that, Shinobi602, a respected insider, has dropped some details upon this project, albeit some are pretty vague:
– Genre: RPG.
– Open World.
– The game could be compared to The Witcher. That statement is very imprecise. Although if he has made a comparison with The Witcher, most likely he was referring to the Open World feature, the context and the rich environment of that saga. If so, I would like to see that game.