Senua's Saga: Hellblade 2 Will Run on Unreal Engine 5

Microsoft has confirmed that Senua's Sage: Hellblade II is being built on Unreal Engine 5 for Xbox Series X.
The first footage of Senua's Sage: Hellbade II was all in-engine as well.

State of Unreal, Senua's Saga: Hellblade 2 MetaHuman Trailer

Hellblade II Xbox Series X Trailer Likely In-Engine, But Not Real Time Says Digital Foundry

New Unreal Engine 5 games coming to Xbox in 2023 and beyond

Ninja Theory has started a Developer Diary for Hellblade II and the first episode focuses on the location for the game - XboxEra

Hellblade 2 is getting TOO REAL in Unreal Engine 5

Hellblade 2: Senua's Saga - Official Unreal Engine 5 Metahuman Demo

Senua's Saga: Hellblade 2 Gets a Gameplay Trailer at Last - IGN

Phil Spencer Says That Hellblade II Is Not That Far Away

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Unreal Engine 5 and its impact on the future of gaming - Catness

Senua's Saga: Hellblade 2 Will Run on Unreal Engine 5