Hello everyone,
I’ve yet to play Fate of the Elder Gods but I noticed that it’s both 1) a game using the works of Lovecraft and 2) has Richard Launius as a designer.
Since Joe Diamond of Arkham Horror fame (another game designed by Launius) is kind of within the Multiverse of Sentinel Comics then does anyone with more know how of Fate of the Elder Gods detect yet another connection between these two continuities?
Tangential connection at best.
FotEG obviously takes place in a setting in which the Lovecraft mythos is a thing.
We know that the world of Sentinel Comics does not contain the Lovecraft mythos as canonically true. The works of HPL exist here in the real world and within the “metaverse” in which Sentinel Comics is a publishing company. It’s possible that FotEG could be a game that exists in the metaverse. Because the writers of Sentinel Comics can be aware of HPL, it’s also possible for the works of HPL to exist as fiction within the comics as well and so FotEG could be a boardgame within the comics universe too.
Short version: the events within the game of FotEG could not be “real” in any Sentinels-related property, but the game itself could exist.
But we’re not ruling out it could theoretically occur within Sentinel Comics because of the nigh infinite Multiverse?
Perhaps in the metaverse Sentinel Comics and the Lovecraft Estate are in talks for a crossover limited series? 
Heh, yes, somewhere in the multiverse exists a set of universes in which the Lovecraft mythos is real. I should qualify that the main, canonical universe(s) in which Sentinel Comics stories take place is/are not members of that set.