Imploding the Mirage

The album was announced on 15 November 2019 and was due on 29 May 2020, but the pandemic pushed it to August and postponed the tour planned for May. Jonathan Rado and Shawn Everett produced it, recording in Los Angeles, Las Vegas and Park City, Utah, where Flowers said he first fell in love with music. Vannucci said the pair pushed the band to think beyond what people might expect, and that it felt uncomfortable in a special way.

It is the only Killers album without Keuning, who said he was not ready to work out of Vegas or Utah for a year and a half. Stoermer, on touring hiatus, played bass and guitar on his own terms. Lindsey Buckingham and Blake Mills play on Caution, with Lucius, who also sing on My God with Weyes Blood. k.d. lang sings on Lightning Fields and Adam Granduciel plays on Blowback. Blowback samples Your Love by Frankie Knuckles and Jamie Principle, and Dying Breed has excerpts of Hallogallo by Neu! and Moonshake by Can. The cover is Thomas Blackshear's painting Dance of the Wind and Storm, which Flowers said became a member of the band.

Caution, released on 12 March 2020, reached number one on Billboard's Alternative Airplay and Rock Airplay charts. The album debuted at eight in America and at one in Britain, with 50,391 copies in its first week, and also topped the Australian chart. Metacritic averaged 76 from 22 reviews. Mark Beaumont in NME called it "a raised fist to the future", and Pitchfork described it as one of their biggest and best albums. A deluxe edition on 29 January 2021 added a new song, C'est La Vie. The tour began in Las Vegas in April 2022 and ran until December 2023.