this post was submitted on 29 Nov 2023
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It wasn't officially announced but it's known that it was being worked on and got shelved. Some devs wanted to use the Unreal Engine since Source 2 (at the time) wasn't up to par to what they wanted. Without everyone on an agreement on what to do, they moved onto other projects since Valve is a "work on what you want" environment. I believe there was a massive Valve data leak years ago and some possible L4D3 assets might have been leaked, but I think it was just level design concepts built in Source 2.