Arkane co-founder Rafael Colantonio wants to work on Dishonored 3, but the chances of the game appearing are too slim

Arkane Studios co-founder and Dishonored co-director Raphaël Colantonio expressed his desire to return to work on the third part of the series, noting that "now I could work on Dishonored 3, because it's been so long, why not?"
Here's What We Know
Colantonio said that after the release of the first part of Dishonored, he wanted to work on new projects, so Dishonored 2 was entrusted to Harvey Smith, while Colantonio focused on Prey. He also mentioned that there are different concepts for Dishonored 3: "I had a document about Dishonored 3. Harvey has a document about Dishonored 3." However, he added that the realisation of any of these versions currently looks like "science fiction".
Despite the success of the series, sales of Dishonored 2 did not meet the expectations of the publisher Bethesda. Currently, Arkane Lyon is working on a game about Blade under the leadership of Dinga Bakaba, while Arkane Austin was closed after the unsuccessful release of Redfall in 2023.
Thus, although the creators of the series have ideas for a sequel, there are no official plans for Dishonored 3 and, frankly, as Rafael has already mentioned, the chances of a third instalment are too slim.
Source: Quad Damage