Which would probably not lead to a good game. The meta commentary in V3 was barely pulled off, I don't think they'd be wise to double down on it when I doubt they could execute on it.
I'd say they should scrap it and make a new continuity, but they've kind of burned that bridge too. There's not really a good reason to make another Danganronpa besides that it's a popular franchise, they've pretty much stretched the concept as far as it can go.
In this respect I'm kinda disappointed that "New" Danganronpa wasn't... that original?
If you're defining Danganronpa as "a 6 chapter game with free time and class trials with these mini games", it's pretty limiting and this was more or less their big chance to break from that. They didn't, and so a Danganronpa 4 isn't likely to break from it either, and that's going to make it hard do anything worthwhile.