Assassin's Creed used to be an annual fixture on Ubisoft's schedule. The plan worked for years as audiences loved every new and exciting experience that the series brought to the table. Unfortunately, the stealth-action adventure games started to run out of steam in 2013 after the release of Assassin's Creed IV: Black Flag.
A few years later, Ubisoft revamped the entire franchise, turning Assassin's Creed into an open-world RPG with stealth elements. Since then, Ubisoft has only released three Assassin's Creed games between 2017 and 2021. Instead of new installments, Ubisoft shifted its focus towards massive expansions for each game.
Having said that, fans expected Ubisoft to skip releasing a new installment this year and perhaps even in 2023. After all, Ubisoft made another bold change by announcing that it would continue supporting 2020's Assassin's Creed Valhalla beyond the game's second year. But, it appears that this isn't necessarily the case.
If we go by what the Bloomberg report is saying, Ubisoft is working on a new Assassin's Creed game that's scheduled to be released after Dawn of Ragnarok comes out in March.