I'm not a game developer but I would think it would not take longer to make a open world single player RPG than its taking to create BG3, yes, maybe they would need to use a different engine and learn how to use it effectively which would take time, but they also don't need to make it a 100hour + game, maybe start small, make a 50 hour game, to get your feet wet, see how its accepted and work from there.
Also, the idea of "spell slots" rubs me the wrong way, if I'm a Wizard/Sorcerer, I learn my spells, have then reedy and the only thing I need to worry about is my MANA (or some other unseen magic force), MANA which can replenish over time and perhaps faster if i camp or sleep at an Inn or eat some food, etc....
Well, I’m sure Larian could have made a totally different, non D&D game, and perhaps they will. But I wouldn’t want them to have not made BG3 the way it fundamentally is (niggles about some of the details aside).