A recent job listing at the League of Legends developer suggests that one of its unannounced projects will be an MMOFPS similar to that of Destiny 2.

The details:

A job posting on Riot's careers page for a game designer to work on a "Unpublished R&D product" with a focus on progression and metasystems has surfaced. Riot mentions in the job description's "required qualifications" section that the applicant must have "deep familiarity with long-form progression systems from multiple angles," including in mobile, MMO, ARPG, and FPS titles.
The game's suspected genre is further defined in the description, with Riot hoping to hire someone with "deep insight into modern progression systems in MMOFPS, Competitive Shooter, and season-driven ARPG games." With VALORANT continuing to be a success for the studio, fans are already suspecting that this new project may use the tactical FPS's world as a foundation to build a Destiny 2-style shooter or even an extraction shooter, using the characters, story, and locations that players are now familiar with.
Nothing is confirmed until Riot makes an official announcement; however, some have speculated that the title has likely been in development for some time, with older listings for a "Project T" also stating that the game runs on Epic's Unreal Engine, suggesting that the two projects are the same.

What else is happening at Riot?

Riot is currently working on both the mobile and console versions of VALORANT, with the developer beginning to hire managerial staff for the console project. The release dates are unknown, but the mobile version did receive a beta phase exclusively in China in April 2022, so we could see a global beta in 2023.
In January, the company experienced a security breach, which resulted in the theft of source code from League of Legends, Teamfight Tactics, and a "legacy" anti-cheat. Riot has refused to pay the $10 million demanded by the group behind the social engineering attack for the stolen data.

Looking to work on one of Riot’s various projects? You can check out available vacancies at the company here.

Riot potentially working on a Destiny 2-style MMOFPS