Didn't they already say this was a one time thing and no sequel was coming? Truthfully dos3 would probably be coming next and I could see them taking this game and adding onto it making it a cinematic version of dos series scrapping custom characters and forcing there own down your throat.
Google didn't turn up anything, but I might just not be asking the right things. If no sequel is coming, they better give us an expansion or consider a much higher level cap. Outside of how it was handled in DOS2, I am NOT a fan of Rivellon, its timeline, or its themes (DOS2, in my opinion, is very unlike the rest of Larian's games). If they are returning to DOS, I hope they reconsider the story and gameplay direction they chose for Fallen Heroes.
I think a relationship with WOTC at the current height of DnD popularity is still good. Sales for BG3 must have been nuts so far. A new setting would be nice. While I am not a Critical Role fan, I understand they are working on a video game with WOTC, and making a game set in Exandria could be a nice way to boost Larian's presence in some of WOTC's more popular properties. Along with the potential for a full, well-known, voice cast. It would be a point toward notoriety and widespread appeal of Larian's games toward the tabletop community, especially with the integration of online shows (not into gameplay, more as a brand).
While I cannot find WOTC's sales comparisons by setting for anything in the current century, I found some data from the previous century, which indicates the popularity of Greyhawk, Dragonlance, Ravenloft, and Spelljammer. I also know Planescape is immensely popular with cRPG fans. My personal votes would be toward a Planescape game or a Ravenloft game, with a stronger emphasis on the tension and horror Larian is hinting at in BG3.
Edit: In case it wasn't clear, I'm not only speaking from the perspective of personal taste, but also a business perspective. I am a fan of studios that I like making more money.