Warning, minor spoilers ahead!
This new tease is in line with what we've learned in the past; the Telltale take on Game of Thrones will definitely take place in the North. This new teaser refers specifically to both the Greyjoys (Squids) and the Boltons (Flayed Men), and to the Wolfswood, which is the biggest forest in the North, all of which points to a part of the series the show hasn't yet gotten to. It's entirely likely that this game will take place concurrently with where the next season of the show will pick up during Stannis' struggle in the North. Thankfully, we shouldn't have to wait as long for the first episode of the game as we do the next season of the show.