Capcom has revealed that it is working on a successor to RE Engine. While details are currently fairly light, we do know that it has been codenamed REX Engine, standing for RE neXt Engine, apparently. This was all revealed during a presentation at the ongoing RE: 2023 conference, hosted by programmer Tomofumi Ishida.
The announcement of REX Engine was included at the end of a presentation titled RE Engine's Past and Future. Programmer Tomofumi Ishida talked through RE ENGINE's progress since it was first used in 2017's PC games, and console hits.
According to Ishida, the need for a 'next-generation' engine stems from a hope to better handle higher volumes of larger asset sizes more efficiently. In addition, Capcom aims to meet the increased demand for customizability and usability, specifically the need for a high degree of customization in each development title.

It remains to be seen just how new titles will benefit from the planned jump in technology, given that the development tools are clearly still yet to be folded in and made available for Capcom's teams to use fully. The last RE Engine games were Exoprimal and this year's Resident Evil 4 Remake. Moving forward, it's likely that we'll see several series making use of the new engine, likely Resident Evil and Monster Hunter.
Until we hear more, it's expected that we'll see at least a few more games developed under the old RE Engine banner, but the future does appear to be bright for Capcom's industry-leading technology.
While we wait and see just what's in-store for REX Engine, why not check out the best Resident Evil 4 Remake review – it's the perfect game for Halloween season, after all.