The game has been given a new codename to celebrate: Kestrel.
It’s still a co-op multiplayer affair, however.
Remedy have at least one other multiplayer game on the boil, codenamedCondor.

It seems likely that many of the former project Vanguard devs have transferred to Condor.
(Control 2is still in the proof-of-concept stage.)
I’m interested to hear more from Remedy executives about the above “risks” and “uncertainties”.