A lot of fighting game folks and SNK aficionados are waiting on for official King of Fighters XV news later this year. You don’t have to wait any longer; if these rumours are true, fans are in for a huge revamp.
According to this Reddit thread, the game’s characters will be remade and remodelled from scratch. Nothing from KOF XIV will be reused. Due to the remodelling, the game will only feature 40 characters maximum. Given KOF’s large roster in past games, this might come off as “a tad small”.
Gameplay-wise, part XV will be closer to The King of Fighters 2002 Unlimited Match and may be out of development in August 2021. The title will need to hit the 1 million copies sold benchmark to be considered a success; KOF XIV numbers were 700,000 copies sold on PS4 and PC (via Steam).
Until SNK makes an official announcement, treat this with a grain of salt.