They're calling it REX Engine.

Capcom has revealed that they are working on a big update to their RE Engine. This "next generation" of the RE Engine is currently called REX Engine and will include all previous features from the RE Engine but with support for new technologies and several behind the scenes improvements to improve workflow.

This reveal of the REX Engine came from Capcom Research & Development and was talked about in a video aimed primarily at developers. No specifics on what these "new technologies" may be, but there's no doubt we will find out once games are made that actually utilize REX. We do know that Capcom is working to have REX Engine better handle large asset sizes.


Perhaps more interesting here is a bit near the end of the presentation, where it appears as though Capcom may license out REX Engine to other game studios. This would be like what Epic does with Unreal Engine or what Unity Technologies does with their Unity engine. This is so far merely a best guess based on the provided materials.