Wait, it is? When was this confirmed?
All the more reason for me to want KoF XIV to be a success, honestly. Granted, KoF XIV is also proving that pixel art is expensive, and old-SNK levels of pixel art isn't really feasible. But even if it's just GGX-style cel shading, I'm in.
I think 6 and 7 take place earlier than 5, but I'm not sure of the exact timeline.