Here is the official description from 505 Games. Remedy, seemingly borrowing very heavily from the aesthetic of Quantum Break, the Control trailer featured a lead female protagonist using psychic abilities to throw things around the room and, y'know, being in control.
Control is directed by Quantum Break director Mikael Kasurinen, and at a glance it certainly seems like some lineage is shared with that game, including in technology.
The game was announced as part of Sony's E3 2018 press conference, so it's safe to assume it'll be coming to PS4, though whether or not it'll also arrive on other platforms is unknown. This sandbox-style, gameplay-driven experience built on the proprietary Northlight engine challenges players to master a combination of supernatural abilities, modifiable loadouts and reactive environments while fighting through the deep and mysterious worlds Remedy is known and loved for.
If you were waiting on a new Alan Wake from Remedy then I'm sorry to disappoint, but the Control game looks to be a doozy. "We believe this is going to be another major hit for both our companies, on a bigger scale than ever before".
Control will head to the PlayStation 4, Xbox One and PC. It was given a 2019 release window and teaser trailer.