A short look at Platinum's new IP was shown during State of Play today.
Babylon's Fall key art

Square Enix and PlatinumGames showed off a brief glimpse of Platinum's upcoming action title, Babylon's Fall. This is an entirely new action title from some of the best action focused developers out there.

Outside of the trailer, not too much was really revealed about this one today. We do know that it is in development currently for the PlayStation 4 and PC (via Steam). We'll probably see more on this one as the Summer 2020 release nears.