The former is an entirely new game that's being worked on by the same people behind Final Fantasy XV. Because it's a new IP, most expected it to release much later. At the very least, not before Final Fantasy XVI. However, according to recent reports, it seems like Square Enix is prioritizing the release of Forspoken with Final Fantasy XVI expected to release only after.
When is Forspoken Expected to Release?
Square Enix just released its latest financial reports and in them, the gaming giant detailed that it is going to focus on the new IP until the current financial year ends.
So, what does this mean? The good news is that this means that Square Enix plans on focusing most of its efforts towards Outriders, which was released last April, as well as Project Triangle Strategy, and Forspoken.
Because the current financial year ends on March 2022, we shouldn't expect the likes of Final Fantasy XVI and Dragon Quest 12 to release until at least the second quarter of 2022 if not much later.
With that said, there is reason to believe that the report only pertains to full entries to the studio's mainstream franchises. After all, we know that Final Fantasy 7: The First Soldier will release sometime in 2021. But, then again, FF7 Remake Part 2 and Final Fantasy 7: Ever Crisis are both expected to release in 2022, so they might not release before April 2022.
If it's any consolation though, Final Fantasy XVI wasn't ever really expected to release in 2021, so this isn't really that big of a surprise. What is surprising though is that Forspoken might release before Final Fantasy XVI.
Although we have no information as to when either title started development, most would have expected Square Enix to prioritize the latest installment to one of their best-selling franchises as opposed to an entirely new IP that might or might not end up being a success.
Square Enix is expected to take part in E3 2021 on June 13-15.