The God Butcher takes place throughout the lifetime of Thor, as Gorr torments him in the past, present and future.
In the Past, Gorr has his first interactions with Thor, capturing him and torturing the God of Thunder.
In the Present, Thor discovers Gorr is still killing gods and as Thor investigates further it leads him on a manhunt across the universe.
In the Future, Gorr controls the universe after killing the gods that were left. Except for the old King Thor, who continues to defend Asgard against the God Butcher.