Alan Wake and exactly this project was rumoured to be the long-awaited Alan Wake 2 – and according to Remedy, the game has now "moved into full production".
In March, industry insider Jeff Grubb said on a live stream that "I've heard that Remedy is going to be making Alan Wake 2 with Epic," and that "there was a bidding war [over Alan Wake], but Epic had the best publishing deal." Unlike Epic's previous store exclusive deals where it purchases temporary exclusivity, it's actually publishing this title, so if the game is Alan Wake 2 then it'll likely be an Epic Games Store exclusive – permanently.
Remedy has getting the rights back from Microsoft in 2019. However, the final 'AWE' expansion for Remedy's most recent shooter Control featured the return of Alan Wake and acted as a big tease for Alan Wake 2.
According to as Alan Wake 2 is definitely coming, it has to be one of them.
https://twitter.com/Nibellion/status/1377312988990955524
Both Control actually launching as an Epic exclusive, so there's clearly a good relationship there. Whether fans would be happy to see Alan Wake 2 as a permanent Epic exclusive is another matter, however – but either way, that's presumably happening with at least one major Remedy game coming up.