'Judas' is the first project from BioShock creator Ken Levine's Ghost Story Games

engadget.com:

Ghost Story Games has revealed its first title nearly six years after BioShock creator Ken Levine founded the studio. A trailer for Judas debuted at The Game Awards and while it's not an actual BioShock game, it draws from that series' art style. It's also a first-person shooter in which it looks like you can wield elemental powers.

You play as the titular Judas, a "mysterious and troubled" character who is stuck on a starship that's falling apart. According to a description on the game's Steam page, "your only hope for survival is to make or break alliances with your worst enemies." 

Bloomberg reported earlier this year that the game had been stuck in development hell for several years amid multiple reboots and Levine changing the direction of the project multiple times. But Levine suggested back in 2015 that his next game would be a sci-fi first-person shooter, and Judas at least fits that bill. There's no release window as yet.

Meanwhile, there is a BioShock game in development at a separate Take-Two studio. But this is not that. Judas is definitely not a BioShock game.