(edit: ) It appears that ‘the Chasm’ may take longer to arrive than before. Since the Chasm update directly influences the new element of dendro, and dendro isn’t quite ready yet according to some Chinese servers. But here are some concept photos to keep us anticipated!
images from this link (however these images are solely predictions !! not official from mihoyo) https://bbs.mihoyo.com/ys/article/5588133
After Inazuma’s release date keeps changing frequently, Mihoyo has to find some other ways to keep players busy. So far they’ve been successful with bringing new five star characters each month and even mini festive events such as the Xiao Lantern Event in February and now the Windbloom Festival Event for March.
However, something that some players might have already seen, is the infamous ‘Chasm’. Now we don’t know much about this area, except for many Youtubers trying to sneak their way into the restricted area. But, some theory says that this region is still part of Liyue and might actually be a new minor region unlocked, similar to the Dragonspine region in Mondstadt.
* ALL credit goes to the original post creator! @冻梨游研社*

But looking at this image, the Chasm matches it’s literal definition of being a large gorge or canyon. With much of the geological features looking similar to the Dragonspine caves, but definitely much more “ravine” looking, rather than a snow mountain, of course.
*BUT remember, none of this was confirmed, everything is subjective to theory!
Thank you so much for reading! Comment down below your thoughts and which region you’re most looking forward to seeing!