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https://www.youtube.com/watch?v=PivWxDUHlhw
https://twitter.com/frostedkiwis/status/1593274555237285891
I assumed that they were working on this while they sold the IP to Gearbox, and seeing as they wanted to move on this can be considered their big send-off.
Gearbox purchased the Risk of Rain IP from Hopoo Games.
They already were sole creators of all stages in the RoR2 DLC and many enemies within it as well, aside from publishing.
Hopoo remain developer and maintain full creative control over Risk of Rain Returns which is Gearbox Published.
Any potential sequels going forwards (AKA not already in existence like RoRR is) will be Gearbox.