It's a very nostalgic style he has - but I have always thought it to be quite limiting in creating distinguished characters. Some characters look far too similar - and they have to because that's the style.
That's okay. I can see it going either way. But if you are making big changes already, it wouldn't be too out of place to change the style. Of course with a series as old and iconic as Dragon Quest, I'm sure that would ruffle a lot of feathers. I think it would be an interesting change due to how traditional the series has been to this point. This all depends on the new kind of style used and such.
What's up with these comments about Toriyama needing to be alive/involved to make a game that aesthetically looks like DQ? He didn't animate DBZ himself. You can easily make the argument that finding someone who knows the man's "eye" and can develop character designs for future installments. Purists I'm sure will scoff (as if the folks buying the game solely for the artwork are driving sales), but it's not like this conceit means the end of DQ (or DBZ for that matter).
. . .unless legally he owns the rights to the look (like the fella who owns the music) then no.
As for the OP's question. At this point. . .nope. It's like trying to change the look of THE SIMPSONS. Modern day of this show is wildly different than the early days, but it still LOOKS like THE SIMPSONS as opposed to KING OF THE HILL. Same here. The aesthetic, whether designed by Toriyama or not, is largely fixed.
Toriyama, yes: Akihiro Yoshida art style is successfully inherited by Kazuya Takahashi for FF14 and FF16. I am sure there are artists that can do the DQ style.
Toriyama art style, hard to say: FF replaced Amano with Nomura and many others for character/monster designs and that worked for FF. But DQ is a different franchise.
I definitely think it could, but I feel like it wouldn't sit well for a lot of fans. Especially if the games received different art. As a different form of entertainment it may be more digestible. Toriyama's art is just so damn identifiable, it's hard to think of the DQ games with anything but.
For FF, the logos all have the same style. The music is also consistent across the games, albeit adhering to their games styles. It’s nice that FF can be free form with its styles, it allows for easier translation of FF into different genres