I saw this detail in their job listings for a VFX and Character Artist contractor on Gamasutra but there's really not much to go on other than that it's likely for both PS4 and X1 as both are included in the job listings. They also said the employment time would be at least 6 months although that isn't much of an indication for timing of release since their last contractor job listing for a handheld remaster was only 2 months and I don't recall Bluepoint having released anything recently.
http://jobs.gamasutra.com/company/bluepoint-games,-inc.-0566
So what could it be?
Update - probable clue
http://jobs.gamasutra.com/company/bluepoint-games,-inc.-0566
So what could it be?
Update - probable clue
This feels like a key part:
– Learn and master a proprietary game engine effects pipeline
That probably means it is not Unreal, so you can cross out Mass Effect, BioShock or Gears.