Hi Zethael, Welcome!
This will be Generation 3. also known as V2.0 - Gen2 was already released in v1.0 and up and is still accessible through request as there is no support for the older version anymore
We are wanting to have skyline run on a minimum hardware of DX11 supporting GFX cards with at least 1gb of ram, but that is low in todays hardware. Recommended will be 4gb or more. We are developing with GTX 1060 6gb cards and 16gb of ddr3 ram
Any cpu that can run the cards will do.. obviously newer chips will always process more and the rendering is actually multithreaded so more cores could = more fps.. although i cant say for sure as we are running older i7 3770 and 4770 and havent had the opportunity to try the latest tech.
The newer features planned though may need more performance but these heavier features will be turnoffable.
As for news on the engine.. its going well. we have a few private testers using the new version even though there are some issues at the moment being worked on, things are going well.. just time consuming as we are only 2 devs

Thanks for stopping by and asking

have a good one!