Moon Knight is out for blood, his target Shadow Knight. While searching for the Sapphire Crescent, Khonshu tells him its in New Orleans. After finding it at a fortune tellers residents he pays to get the Sapphire Crescent in his possession. Shadow Knight shows up leaving an all out battle between Shadow Knight and Moon Knight.
Hard to say where in the Shadowland storyline this takes place. In this issue it shows Moon Knight going back to Shadowland fighting the Hand, but Moon Knight is not seen in Shadowland after issue #3. Nor is the Sapphire Crescent seen after Moon Knight uses it to kill Shadow Knight. Khonshu may have made the elaborate story up about the Sapphire Crescent being needed to remove the Beast of the Hand from Daredevil...