Indiana Jones was announced shortly before Microsoft's acquisition of ZeniMax/Bethesda was finalised, and it is being developed by the Swedish studio MachineGames, mostly famous for the Wolfenstein games.
But making Indiana Jones happen was clearly not an easy task. Thanks to all the revealed documents from the FTC vs. Microsoft/Activision Blizzard trial, we now know that the industry veteran and Bethesda legend Todd Howard worked over a decade to get the game made. Now it's finally happening, and it seems like the confidence in this project is really high.
Bethesda's head of publishing Pete Hines writes in a published email:
"Anyone who has seen the pitch has immediately said, 'oh my god, I have to play that game right now'. It's going to be amazing and we think the reaction to the announcement is going to be terrific."
We still have no idea when we will get to see the game, which is still in early stages of the development, but it was confirmed recently (via another revealed document from the FTC vs. Microsoft/Activision Blizzard trial) that Indiana Jones will be a console exclusive for Xbox.