Yes, it is Army of T.W.O. One of my favourite guilty pleasure games.

I love the look of the mercenaries with them using both military & makeshift gear, It's the easiest to cosplay & professional looking.
This was my updated variant from my first proper cosplay, I made the crotch & neck armour from EVA foam, sandwiched with nylon fabric sewed together & added weathering techniques with black, manor red spray-paint & real dirt over all of it from my backyard along with a seal coat to keep the everything in place. ASK-74u is 1:1 scale plastic toy of a first gen model decommission gel-ball blaster, painted to be realistic looking. Face helmet was from my previous cosplay which was some air-soft one that look closely resembled to the game so I brought it, remove the lenses, added further detail with clay around the eyes & ridge edges. Then swapped out the straps for a hard adjustable strap from a welding helmet so I can flip the face helmet up & down like in the games, then my desired paint-job. Had to make a smoke-grenade from a empty deodorant can because they weren't selling dummy ones left in my country

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All my gear is from Ebay from hunting, sporting & military surplus brought from all over the world. Took me a year from 2015 to slowly build up from my brainstorming & extensive research on what specific look I wanted on how I would look in-universe in Army of T.W.O. 20AUD here, 50AUD there on a belt, gloves, pouches etc. All add up it cost I think it was around 400AUD/260USD if I remember, when I first put it all together. Just have to look out for bargains & know where to look online.
Also check any of your local military surplus stores as well, here where I live we got tonnes of old Aussie bean-camo BDUs going for 50AUD/30USD for a button up top & pants. Our military is phasing them out for the next gen multi-cam similar to the US one but keeping our original colours.