There have been quite a few people out to make new games similar to FH. I say go for it if you really want to. I wouldn't completely copy everything about the current game, but the idea of it would be good.
That would be a really fascinating thing! I also like the name that might be chosen.
But as above member fluffs have said, I wouldn't copy Feralhearts ideas completely! You know? Create your own ideas, models, in-game animations, etc!
A Feralheart (but not) game would be pretty cool honestly.
Good luck, if you start this project! c: