The only new IPs I actually saw since 2017 seems to be indie games and Smartphone Gacha games. Not even the medium-sized companies are doing it.
Seems like creativity of man has hit its roadblock and they're now switching into destruction instead of creation.
Atomic Heart is the first one to come to mind. Making new IPs is a risk, if the product ends up being trash it won't have loyal buyers to fall back on.