According to a quick google, KotOR3 was a ca 2007 project that got canceled. I cant find anything newer. So the name is still available, if Larian or anyone else would want to pick it up.
There is a new KotoR game coming, but its not called KotoR at all, but "Star Wars: Fate of the Old Republic", by Arcanaut Studios.
It does not have its own Wikipedia page yet: https://en.wikipedia.org/wiki/Star_Wars:_Knights_of_the_Old_Republic#Related_games
That starship in the distance is exactly like the one in Alien. Yes, the original Alien movie. From the 1970s.
I really hate when people do something like that. Dont make Star Wars look like Star Trek, or vice versa, or make them look like Alien etc. Its absolutely annoying and disrespectful and immediately proves you lack of imagination.
The rest is really uber generic.
There is a Jedi with a blue lasersword, so I persume we would play a Jedi. Thats all information the trailer actually gives. Okay, fine.
"Fate of the Old Republic will be developed by a new studio launched by Casey Hudson, the director of the original Star Wars: Knights of the Old Republic and the Mass Effect trilogy."
Followed lots and lots of marketing blablabla. Yeah, whatever.
"Created in collaboration with Lucasfilm Games, Star Wars: Fate of the Old Republic is a narrative-driven single-player action RPG where you step into the role of a Force user on a journey through a galaxy on the edge of rebirth."
Ooooookaaaay ...
"Blending innovative storytelling, memorable characters, and heart-pounding combat, Star Wars: Fate of the Old Republic will immerse you in an unforgettable experience where every decision deepens your journey toward the light…or the darkness."
This whole sentence is full of red flags.
What is "innovative storytelling" ? This sounds very alarming. I want classic storytelling, thank you very much. I had enough "innovative storytelling" recently for sure.
What are "memorable characters" ? I will reserve the right to decide if they are memorable myself, thank you very much, too. The ones in KotOR1 have been quite memorable, the ones in KotOR2 certainly havent.
I dont remember ever having any combat in a video game that was "heart pounding". Interesting, sure. Challenging, sure. Well done, sure. But "heart-pounding" ? What does that even mean in this context ? That term only makes sense in storytelling when you care about something but dont have any control. Which in combat you are supposed to have.
Anyway, given the enormous potential of the KotOR setting, I'm quite anxious that this title does NOT mean the setting is officially "decided", getting killed off, etc.
That would be a really disastrous idea.
The old republic is relatively uncharted water that could be used for new stories by talented people. Unlike the Skywalker area which is at this point just bloated with stuff, and much of it reeks horribly.