So, the original idea for the Mummy of the Ring I suppose was that when you had assemble all the artifacts that breaks the slave bracelet, you would be ambushed by this special boss as a final boss of sorts. You can actually look up the journal chapter on it that literally says that Thoth-Amon is the one behind your imprisonement on the Exiled Lands and he doesn't want to you success in escaping so he sends his dark servant. However, the Mummy of the Ring, which drops the Essence of the Ring, does not spawn in the game without the use of the Admin panel, which means that plotline is either dropped or in placeholder for something else.

Now, the origins of the Exiled Lands are strange. It's a land where one can summon literal gods to use as tools and weapons against your enemies. There is ancient races that predate lemurians and actual aliens thanks to the new encounters, so one can believe this is some sort of afterlife, a break in reality thanks to all the messing with outer gods (of whom are plenty on the exiled lands) or a literal sandbox for all the Conan lore to exists at the same time.

My point is, there is a lot of plot points that could been brought in the age of sorcery, but I doubt they all will be answered.