Konami technically isn't working on a new Silent Hill game. However, this has never stopped people from speculating. Even after Bloober Team confirmed that it's working on a different game, some still believe that Konami is hiding something. Now, Konami might have little choice but to confirm its upcoming plans.
According to a trailer that went rounds on the internet over the weekend, a "global reveal" of a new Silent Hill game is coming on the 12th, two Tuesdays from now.
As with anything related to what Konami, details about the leaked reveal trailer for the upcoming Silent Hill game are a bit sketchy. If you believe what people on the internet are saying, Konami showed the trailer to its shareholders in a recent meeting. However, there is nothing that suggests that the trailer is legitimate, but since we're only a little over a week away from the promised date, we might as well wait.
Curiously enough, you can no longer find the "original" source of the leaked trailer. Even if we can't say for sure if Konami asked the user to take down the video, there is precedence for it.