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Source: https://www.pcgamer.com/josh-sawyer-would-like-to-make-pillars-of-eternity-3-but-only-if-he-got-a-baldurs-gate-3-sized-budget/

I found an article that talks about Josh Sawyer wanting to return to the series. Unfortunately there's no sequel in development (right now). Mr. Sawyer said he would like to make PoE3, but only if he had the budget of a triple A game.

"I think if it truly was an unlimited budget, I think I would try Pillars 3 because I know what the budget was for [Pillars of Eternity 2:] Deadfire, which was not a whole lot and I have heard from multiple people what the budget was for Baldur’s Gate 3, and I’m not gonna talk about numbers, but if I got that budget, sure, I’ll make Pillars 3."

Feargus Urquhart - Obisidian's CEO, said something similar in 2008. He wanted to make BG3, but only if Atari gave him a big budget to fund it. It was an ambitious project, but one that never materialized.
It probably won't happen, they could probably manage another kickstarter, but a triple A budget... I would love that, Pillars and Deadfire are among my favorite games of all time, but I'm not really hopeful we'll ever get another installment.