If you're talking about the supposed new Silent Hill game, those rumours aren't really dead. Not saying they're certain, but they're not dead.
I'm talking about the good one, which came from Era. Not the "Sony bought Metal Gear, Silent Hill and Castlevania" one, which was obviously not true.
If anything I think it's a matter of time. There a lot of things aligning. Silent Hill in Dead by Daylight around summer of last year... Also around that time the series got a new official logo that is being used from everything since then... Recently a Silent Hill DLC got announced for Dark Deception... Plus other things that could hint towards the existence of a new game like certain tweets from Masahiro Ito, art designer of the series, or how just today Akira Yamaoka, composer of SH, said his next project will be revealed around next summer and it will be something fans "may have been hoping to hear about".
Obviously as I said this doesn't guarantee nothing until it's officially revealed, in case it exists, but just saying this to clarify that there's still room for faith. Though I understand why some would rather not think it could happen and then be let down.