Epic Games has no current plans for, and is not developing, a new Unreal Tournament game.
There had been a faint glimmer of hope that with a new Unreal Engine could come a new Unreal Tournament.
"We're not [planning on] shipping an Unreal Tournament game," said Epic founder Tim Sweeney at GDC, reported CVG.
"We have a lot of nostalgia for the game but we're actually not developing anything in the Unreal game universe at all at the moment."
Pity; although multiplayer servers for Unreal Tournament are still going strong. Here's me flailing uselessly in instagib just now. Oh and I suppose you could always play the much more recent Unreal Tournament 3.
The games Epic is making for Unreal Engine 4 are Fortnite, a zombie-survival base-building game, and a new IP that may be similar to the impressive Samaritan UE4 tech demo we've seen before (very Deus Ex).
Unreal Engine 3 dominated the ageing PS3 and Xbox 360 generation but may not do the same on PS4 and Xbox One, as major publishers look to proprietary engines to supply their studios with, and Unity continues to dominate the lower-end indie market (among other engines).