It appears that Battlefield V is the next game in the long-running Battlefield series, not the previously rumoured Battlefield: Bad Company 3. The game will, much like last year's Call of Duty: World War 2, be set in World War 2.
What's more is, it's due for a 2018 release date. According to GamesBeat citing sources familiar with Battlefield publisher EA's plans, "EA will reveal it [Battlefield V] soon, and it will launch it before the end of this calendar year."
Considering that the last game was Battlefield 1, it's odd to see EA call the next game Battlefield V. The reasons for the inconsistency in nomenclature are unknown at this juncture. Possibly done as a reference to the use of the V sign during World War 2 to denote victory. Perhaps it won't be Battlefield 2 so as to not clash with the 2005 game of the same name. Though EA has referred to Battlefield V as Battlefield 2 internally.
Nonetheless, considering the success of Battlefield 1, a follow up is all but expected. EA already confirmed this to investors stating that instead of Anthem a new Battlefield game will be released, albeit not stating if it would be Battlefield V or Battlefield: Bad Company 3.
“Regardless of how it’s being portrayed, we’re not look at that as a delay, we’ve chosen to launch Anthem in [the fourth quarter]. The date is chosen by by portfolio balance, not product readiness,” EA CEO Andrew Wilson said in a call to investors. “And we’re really excited by the way the new Battlefield is shaping up. It probably doesn’t make too much sense to launch Anthem right by it. As a new IP, it probably makes sense to give [Anthem] its own launch window.”