A few times in the past, EA has licensed out the Ultima name to some developer, for reasons mostly to do with the value of the brand; though it hasn't been done (to my knowledge) since the Ultima series of games that predates Ultima Online, and this is the farthest cry from the genre I've heard of. (Many years ago, there were a couple of titles wherein the Avatar went on adventures separate and unrelated to his affairs on Sosaria, but they still looked and felt similar to other Ultima games.)
I stumbled on the website for Lord of Ultima the other day, and from what I can tell, it uses a few catch phrases from Ultima lore and nothing else. Ultima historians (they exist) will probably remember it only as an odd little footnote.
Anyway. On the bright side, it gave me the itch to resubscribe to UO. It's been years! The enhanced client is 93 percent patched as I type this!