Even though lionhead is closed microsoft still owns the IP. I am willing to bet microsoft handed Fable to a new studio. I predict we will see a proper Fable 4 (hopefully similar to Fable 2) at E3. We see that a lot with Microsoft franchises. Halo is no longer made by Bungie and Gears of War is no longer made by Epic games. The Forza games are also made by a new studio. Who wants to bet that I am right?!
Fable 4 will probably be 900p 30 fps on xbox one and 4k 60 fps on Scorpio and PC Spring 2018!