The President of Epic Games, Mike Capps, has admitted that there is no new Unreal Tournament game in development for now.
Even though the series still packs a stellar fan base, there has not been an Unreal Tournament since 2007 with Unreal Tournament 3. The reason being that Epic Games would prefer to work on different projects.
Hopefully, Epic Games will eventually turn around and produce a fourth title in the Unreal Tournament series, but try not to hold your breath. After all, Epic are currently working in five different projects.