I didn't play the Dead Island stuff back in the day, but I recently have been playing the upgraded edition on PS. It's Far Cry with zombies. Go here, collect an item, go somewhere else to deliver the item, someone will tell you to go somewhere else blah blah blah. The weapons degrade very quickly, and the never ending joy of bashing in zombie heads gets old pretty quick. I'm sure this was top notch stuff in 2007 or whatever but it just seems so tired today. It's on PS+ collection if you have a PS5, and it's been free or super cheap on many PC game bundles. For this sequel to be interesting they are really going to have to do something different and I have doubts.
Like Peter said, Calisto is from the Dead Space dev team, so it will be a space survivor horror game. But will it be a good one? The genre has also kind of been done to death over the last 15+ years.