There is a new game from The Lord of the Rings called Tales of the Shire. What sets this game apart is that it is developed by Wētā Workshop, the same company responsible for the visual effects in The Lord of the Rings and The Hobbit films. Therefore, they are undoubtedly experts in this field.
Wētā Workshop is a New Zealand-based company specializing in special effects. It was founded in 1987 and has worked on numerous films, providing costumes and sets. However, their most successful venture has been the The Lord of the Rings and The Hobbit franchises.
Currently, there is no gameplay footage available, but the game is described as an immersive experience set in the Shire, where players get to live like Hobbits and enjoy the warmth and coziness of the surroundings. The game is set to be released around 2024 for both consoles and PC, with Private Division, a subsidiary of Take-Two, handling distribution.
Note: Wētā Workshop is separate from another company called Weta FX or Weta Digital, which focuses on digital effects using computers. Both companies were co-founded but operate independently. Weta Digital sold its software business to Unity in 2021, but still remains involved in contract visual effects work and has changed its name to Weta FX.
TLDR: Tales of the Shire is an upcoming game from The Lord of the Rings franchise, developed by Wētā Workshop, known for their expertise in visual effects. The game offers an immersive experience in the Shire, and is set to be released in 2024 for consoles and PC. Wētā Workshop is separate from Weta FX/Weta Digital, which focuses on digital effects and recently sold its software business to Unity.