How the new island came to be (theory)
How I think this new island fits into the timeline is like this. I know several others have similar theories but I have a few notes myself
This island was a research facility to perfect the dinosaur cloning process. Perhaps this island even predates Hammond’s involvement. They were cloning dinosaurs and making tests to see which ones worked out. They had some failures who were either deformed or even unable to live for long. So some of the results were good like the Rex and dilos, these were kept and possibly may have been planned to be sent to the park itself. Once the dinosaur cloning process was perfected, Sorna was set up as the main dinosaur factory for Jurassic Park, I also think that Hammond probably planned for Sorna to be used to make dinosaurs for the other planned Jurassic Park locations. The research facility was eventually abandoned either before or shortly after the incident on Nublar in 1993 and the evacuation of Sorna in 1994. Thus the island and all its dinosaurs were left to fend for themselves.
The mutant itself was likely the result of an attempt at cloning a normal dinosaur only for something to go wrong in the process creating the mutant.