Bethesda's Todd Howard says Fallout 5 will only come after the studio wraps up the development of The Elder Scrolls VI, which is years away.
It looks like Fallout 76 expansions will be the only Fallout content that we will be getting for a while. At the moment, the next Fallout game is not even in the concept phase as Bethesda Game Studios are currently focusing on wrapping up the development of Starfield and then moving the majority of the team to The Elder Scrolls VI.
Only after the release of The Elder Scrolls VI, Bethesda will fully focus on Fallout 5, according to Todd Howard, Bethesda Game Studios head. And given that Bethesda usually need six years to make a major title, it's going to be a long wait for Fallout 5.
It's entirely possible that Fallout 5 probably won't be coming before 2030 or even further. It may not even release on the current-gen consoles PlayStation 5 and Xbox Series. Crazy!
Though these are very early discussions and even if Obsidian agreed to make New Vegas 2, we would be waiting for a good five or six years before that game releases.