The entire production of Fury Road has been relatively secretive, and fans have often wondered if the film is a prequel, sequel, or reboot. The answer seems to be that it's set in the world of Mad Max, but between some of the existing films. Charlize Theron told UKPA that it was a re-imagining, and that
Its such an interesting world and how much it still resonates today after 20 years or whatever its been. Were going back to that world but this is not a prequel or sequel or anything like that
One key piece of evidence is that the V8 Interceptor is still in one piece. The car was destroyed during The Road Warrior, George Miller has confirmed that the car seen in Fury Road is Max's Interceptor. On top of that, Screen Rant, in confirming that the time frame fell between the first two films, called it an "interquel."