I like what Horiuchi Nobata was saying, but i'd change some things.

- Keeping with the standard 220 card box size that FFG uses, I'd go with only 8 factions (keeping my second favorites Mantis out) both to keep the numbers more balanced (we've seen that in GoT) and to keep the story going after the AEG Onyx arc. That means that the core set could be, story-wise, 20+ years after Kampeki took the Throne, and he's still reigning. The Core set Spiders would be Shadowlands based, and later there could be a Deluxe Edition that would show them as a "lighter" faction (maybe even after Kampeki was dethroned).

- Distribution: 20 card per faction could give 1 Stronghold, 2 Sensei, 11-13 personalities (of those, 2 unique - champion and 1 daimyo), 1 clan holding, 1-3 clan attachment and 2 clan strategies. That would leave 60 cards as neutral. 10-15 of those would be events (including rings -explained below), 10-12 would be holdings, 15-18 would be attachments (spells, followers and items), 10 strategies and 10 neutral personalities (including some Mantis survivors or Oni).

- Deck contruction: Choose 1 Stronghold and 1 Sensei to play with. 2 decks, one with 15 events, the other a 60 card deck with everything else except Stronghold and Sensei. Non-Event cards should have Focus value.

- Gameplay: You'd have 4 provinces at the start of the game, but they would only take events. One of my main concerns with "old" L5R was that when you started losing provinces, you'd have less options to turn the game around. The idea of these events is that you can still use them to win you the game in a more direct way.
The phases of each turn would be Untap, Events, Actions, Combat, Dynasty, Draw. Untap is basic. Events would make you reveal all the face-down events in your provinces. Actions would let you do actions during your turn (or open would be able to be done in both turns), Combat would still be based on attacking opposing provinces, Dynasty would be where you recruited personalities or holdings and draw would let you draw X cards to refill your hand to a maximum.
You'd still be able to win by destroying opposing provinces, honor, enlightment or lose by dishonor.
Gold produced by a stronghold or a holding would only serve for that phase, but you could produce 4 gold with the stronghold and use it for 2 holdings.
Each Clan would have a "main" keyword - samurai, courtier or shugenja, with samurais on every clan while each clan had either courtiers or shugenjas (at least for the core set). Crane and Scorpion in the core set would go with Samurais and Courtiers, while Lion and Dragon for instance would go with Samurai and Shugenja.
Then each clan would have two themes based on the Senseis: Crane would have Honor and Duelists, while Scorpion would have (example) Dishonor and Yojimbo, or Lion with Tactitian and Water Shugenja, or Dragon With Kensai and Earth Shugenja.

- Cards:
- Strongholds would still be the basis of the deck. As GoT does with their House cards, if would only let you use Clan or neutral personalities in your deck. Again, as GoT does, the backside of these cards could be Sensei's that'd let you use a certain amount of this clan's cards in other clan's Strongholds. They'd that the same parameters that old ones had (Province Strength, Gold Production and Starting Honor, in this order). I'll use the Crane (as my favorites) as an example. The Stronghold could be "6/4/6 Action: Bow to gain 2 honor".
- Senseis would be your clan stronghold modifiers (both the +/- province, gold and honor) while also giving your specifications for each clan. Still using the Crane as an example, the Doji sensei could say "+0/+0/+0 Crane Stronghold required. Reaction: When you gain honor, bow this sensei to gain 1 honor." The Kakita Sensei could give the Crane an offensive solution "+1/+0/-1 Crane Stronghold required. Reaction: When you win a duel, bow this sensei to gain a strategy counter. Reaction: After you win a duel while attacking, bow this sensei and discard 5 strategy counters to destroy a province." This would exemplify the Kakita's strategy of fighting opposing generals on the battlefield to demoralize enemy troops.
The Deluxe editions, per instance, could also give new strongholds or senseis for each clan. Senseis could also show up in expansion packs.

- Events would give you honor that would make you win the game. The rings would also be in this deck. Each event had a trigger to give you honor (ex.: Day in the Court would be "Action: Bow 3 courtiers to gain 5 honor. Discard this event." while Duel at Dawn (an unique event) could be "Reaction: After you win a duel, gain 1 honor.". Ring Of Fire could be "Reaction: After you win a duel by 3 or more Focus, put this ring into play. While this ring is in play, your personalities have +1 Focus on duels. During a duel, you can discard Ring of Fire to give your dueling personality +3 Focus". There could even be an event that could recover your discarded rings - Resource Redistribution "When you reveal this event, you may discard it to put an event in your discard pile in this province face-up.". The Ring Of The Void (as the "Master" ring) could have a phrase like "If Ring of Air, Ring of Fire, Ring of Water, Ring of Earth and Ring of the Void are in play, you win the game." All rings would be Unique, of course.

- Personalities would have their Force and Chi stats, as well as their cost and honor. No required honor needed as gold will be more scarce in this game and personalities have to compete for space, considering they're in a 60 card deck. You could still gain honor when recruiting your personalities as a player action and only once per turn. Of course they'd have their card text, but they'd also have focus and could be discarded as required.

- Holdings would have the same function as the old L5R, mainly producing gold and possibly having some other actions. They'd come into play tapped.

- Attachments: Spells could only go to Shugenja, while Followers and Items could be attached to all personalities.

- Strategies: They'd be just like old strategies, and they'd have the same restriction of clans as personalities have.

It will be interesting to see whether or not the game is like closer to GoT or Star Wars/Net Runner in design. It would stand to reason that the old mechanics are closer to GoT but I could easily see them going with a 6 card objective set design.

I think the obvious game for them to make this the most like is WH40k: Conquest.

I think you'd alienate alot of people if you went that route.

You really think it's really "a feature" when one game is similiar to other?

From latest L5R CCG tutorial game i made:

"Hey, this duel stuff looks like ripped from Star Wars LCG"

Curtain down.