A new entry to the Google Play Console database reportedly points to a new phone called Velvet. However, this device has a MediaTek Dimensity 800 chipset, whereas the current LG device with the same moniker is powered by the Snapdragon 765G. It also apparently has 6GB of RAM and an FHD+ screen.
https://www.notebookcheck.net/LG-may-add-a-new-Dimensity-800-powered-phone-to-the-Velvet-series-soon-new-leak.483546.0.html
AFAIK 765G should be in the same price segment as D1000, not D800. This is LG's only phone with a modern look yet it looks like LG's really bent on not giving people performance to go with it.