It is not yet clear when the project will appear in the public domain, but it already deserves attention.

The Outer Worlds 2 was announced at Xbox and Bethesda E3. Obsidian didn't reveal too many details about what to expect from the sequel, but it's clear from the teaser that the atmosphere of the franchise has been preserved superbly.
The Outer Worlds was released in October 2019 and was created by the same team that introduced Fallout and Fallout: New Vegas to the world. Most of the cult dark humor of the wastelands featured in this title as it relentlessly satirized venture capitalism and its impact on space colonization.
Obsidian Entertainment was acquired by Microsoft in 2018. Microsoft is clearly looking to grow its library of exclusives, learning from Sony's PS4 strategy. The Outer Worlds 2 replenished the collection and became one of the most high-profile releases of E3 2021.
A release date for Obsidian Entertainment has yet to be announced.