May 31, 2017 10:51am.
Famitsu recently interviewed Panzer Dragoon creator Yukio Futatsugi. Although the Google translation of the interview is rough, his comments about Panzer Dragoon and VR can be interpreted as follows:
Of course, Futatsugi’s development studio Grounding Inc doesn’t own the rights to Panzer Dragoon (or Crimson Dragon), so any VR rail shooter than he made would likely be a new IP. Unless Sega or Microsoft allow him to use their intellectual property for the new VR shooter.