Ostensibly, old World. In practice, neither, really.
The fifth edition of Vampire: the Masquerade, otherwise known as V5, follows in continuity from the 20th Anniversary edition using the book Beckett's Jyhad Diary as a bridge. The fifth edition of Werewolf: the Apocalypse is a reimagining of the game line that, although it doesn't follow directly on from the 20th Anniversary edition continuity, uses its background as inspiration. (More on that to come when the book Shattered Nation releases in 2024.) The fifth edition of Hunter: the Reckoning shares really only a name with its forerunner game — the Imbued are not a part of the story, centering on cells of independent monster hunters fighting the darkness in small groups.
These new games are not connected to the Chronicles of Darkness games — Requiem, Forsaken, Vigil, so on — at all. Any mentions of werewolves in V5 will be about the Garou, not the Uratha, even though they'll most likely be seen as mysterious "Lupines" anyway.