Fallout 5 is officially happening, according to a recent update from Jez Corden on the XB2 podcast. 
The long-anticipated sequel has been fully greenlit by Bethesda, marking the first significant step toward development. But fans eager to return to the Wasteland might want to keep their Pip-Boys in sleep mode for now – there’s still a long road ahead.
With Starfield already in players’ hands and The Elder Scrolls VI currently hogging Bethesda’s full attention, Fallout 5 is next in line – just not next in priority. Much of the studio remains busy with Starfield’s post-launch DLC and building out the world of Tamriel for the next Elder Scrolls entry.
Jez Corden’s report doesn’t provide concrete details on who’s spearheading Fallout 5’s development. Todd Howard, the longtime steward of the franchise, could potentially take the lead – if he doesn’t ride off into the sunset before it’s done. Given the lengthy development cycles modern AAA games demand, Howard finishing his career with Fallout 5 seems more likely than not.
Speculation also swirls around how the runaway success of the Fallout TV show might accelerate the game’s development. Some believe the renewed popularity of the brand could push Fallout 5 higher up the food chain within Microsoft’s sprawling portfolio. But so far, there’s no evidence that the project has leapfrogged Elder Scrolls VI in production priority.
So yes, Fallout 5 is finally on the books. But between Elder Scrolls, lingering Starfield updates, and the lack of a clear team in place, don’t expect a teaser trailer anytime soon. If we’re being realistic, Fallout fans might be looking at a 2030+ release window – just in time to stock up on Nuka-Cola for the next generation of consoles.