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Half-Life 3 was in development between 2013 and 2014, but dropped because Source 2 wasn’t production-ready, according to Geoff Keighley’s The Final Hours Of Half-Life: Alyx. It sounds like it never got further than an early gameplay concept, but saying that it was never even started is incorrect.
https://web.archive.org/web/20200713154054/https://www.ign.com/articles/half-life-3-left-4-dead-3-details-cancelled-valve