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Or is it just one of Phil's balls in my throat?
First discovered by German games industry outlet Gameswirtschaft.de in the database of video game projects receiving a German government subsidy is a second Lord of the Rings game codenamed "It's Magic":
Description:
Daedalic is working on a new project that will transport the player into a lush world full of mythical creatures and magic. It tells a story from a character's perspective that has never been told before. The player discovers completely new regions and influences the events of the world within the scope of his role and his abilities. In his own way, he tries to influence the course of things and change the fate of the world. This project is aimed at avid fans of the fantasy story and 3D action-adventure genres around the world.
Projected release is August 2024, with a subsidy of 2.03M Euro. The rules allow devs to apply for a subsidy of up to 40% of the projected development cost.
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