CAVE has revealed they will be developing a game using the Touhou Project property. According to 4gamer, Cave is planning to release their Touhou game sometime 2022. No further details were revealed, namely genre, name, or platform.
Jun’ya Ōta, otherwise more commonly known as ZUN, has been the sole member of Team Shanghai Alice, essentially solo developing, composing and the whole works for the Touhou series, with the most recent mainline game, Unconnected Marketeers, released May 2021. Typically, ZUN’s collaborations with third parties have been either supplementary material or spin-off / gaiden games – Twilight Frontier, for example, having done the fighting games – so we’ll have to see how involved he is in the project.
CAVE themselves are prolific in the bullet hell shooters that Touhou mainline games are – DoDonPachi and Mushihimesama are two of their series – so the title could possibly be in the same vein, maybe even for consoles. The IR slides suggest it’s a “completely new game”, which doesn’t clear things up.
In any case, the Touhou mainline titles and some spin-offs have been making their way over to Steam, sans English translations, for fans to officially purchase. Very few, if any, of these games have been localized officially, Touhou Lost Word standing out in that aspect.