Valve is working on a game called Project White Sands (video game) as revealed by the official website of the voice actress Natasha Chandel. So far nothing strange, yet many are convinced that White Sands is the code name of Half-Life 3.
It is not known what role Natasha Chandel will play in this mysterious game, however many on Reddit have noted how the name White Sands is linked to the Half-Life saga since White Sands is the name of a park in New Mexico state where Black Mesa was located.
Of course not, this is not proof and it doesn’t mean anything at all, the only certainty is that Valve is developing an unannounced game known internally as White Sands, whether this is in any way connected to the Half-Life series, is unknown at this time.
The Half-Life IP has been dormant for some time, ever since the release of Half-Life Alyx for Meta Quest, which was met with great critical acclaim. As far as we know, Half-Life 3 was cancelled in 2015 due to creative differences, but there is obviously nothing stopping Valve from reviving the project, as well as working on a new Half-Life spin-off.
Valve seems to have a bit of an allergy to the number 3, so who knows if HL3 will ever exist…