Ship of Heroes can be wishlisted on Steam and is set to release in Q2 2025. This sci-fi MMORPG has got quite a few eyes on it already as it reminds players of a much older game called City of Heroes, which was released in 2004, over two decades ago. It's clear to see that some inspiration was taken from the older title for the newer one, but are the two related?
The answer is no. Ship of Heroes is not a sequel to City of Heroes. While inspiration could have been drawn from it, they are not related. The upcoming title is a standalone game developed by an indie studio called Heroic Games Corporation, which was established in 2016.
What is Ship of Heroes?

The game is set in the 25th century. You will be able to create an avatar and select and custom-augment your powers as you rise through the ranks. With this being an MMO, you will be able to team up with others to defeat enemies, or if you're up to the task, you can always go solo, perhaps becoming an Omni-Man of this reality.
You will also be able to harvest, craft, trade, and gain fame, wealth, and power as you progress. You'll also be able to uncover secrets and earn badges.
The developers have also stated that everything will be part of the download and subsequent subscription. This means that there will be no premium skins or content. No cash shop, no loot boxes, no add-ons, no expensive gear, no microtransactions, and last but not least, no pay-to-win. This will ensure a level playing field for everyone.

All items will have to be either earned, crafted, or available for purchase with Dust, the in-game currency earned during gameplay. This would suggest that it could have a community-driven trading system as well. At the moment, there is no talk of PvP, but they could be added in the future.
To Summarize
Ship of Heroes is not a sequel to City of Heroes, despite it looking like its spiritual successor. Inspiration for the title in development could have been taken from City of Heroes, but since a completely different studio is developing the game, there is no connection, or at least none that has been officially mentioned.
We could expect the game to be released sometime in June, as Q2 ends then. If not a release, the developers will provide an update on when we could expect to see the game released. For the time being, you can wishlist it on Steam to be notified when it becomes available.