Isometric party-based RPG. Real-time with pause. Fantasy. Platform: PC. Yep, that sounds a lot like Baldur's Gate. And that's good!
You're looking at Serpent in the Staglands. Apart from Bioware's Baldur's Gate, its developers cite 1992 PC RPG Darklands as an inspiration—aesthetically, it is perhaps more similar to Darklands due to all the pixels, but it has this slightly darker and grittier look. It's also all hand-drawn, which is really cool. Plus, you get to be the avatar of a god. That's also cool.
So, party-based, real-time with pause. If you haven't played Baldur's Gate, this means that you get a party of several (up to five in this case) characters you can control in combat, and you can pause anytime to give orders. It's a bit more involved than turn-based combat, but it works. It also allows for some pleasantly chaotic situations where arrows, spells and whatnot are constantly whizzing over everyone's heads.
Serpent in the Staglands is due to come out this Winter for PC. It's got an already fully-funded Kickstarter campaign in its final few days, with stretch goals promising free expansions post-launch. It's here, if you want to take a look.
Serpent in the Staglands [Kickstarter]