To add to CookieShovel’s answer, that is the character representing the Zhou Dinasty.
From Wikipedia:
The Zhou dynasty ([ʈʂóʊ]; Chinese: 周)[c] was a royal dynasty of China that existed for 789 years from c. 1046 BC until 256 BC, the longest of such reign in Chinese history.
I’m not sure this is going to directly affect that, because their deal talks mainly about financing for the Control game, and the other news is about movie adaptations, so probably it is going to be another team, lead by the newly re-hired Hector Sanchez, working on that…
But who knows, this kind of things are always hard to follow from the outside