Following the success of Baldur's Gate III, CRPGs are going to be all the rage for at least a little while, and so gamers are closely watching other, similar franchises and titles such as Obsidian's Pillars of Eternity.
The first game received a new patch recently, and while this doesn't add any content and is more focused on bug fixing, it has led to some speculation as to what Obsidian is up to. There are even those who believe the studio may be working on Pillars of Eternity 3.
While we're not going to entirely squash the idea of that game being in the works, it does seem unlikely. Obsidian is currently working on Avowed, which is set in the same universe as Pillars of Eternity, so it's possible that the studio wants to make sure anyone wishing to check out all the lore can do so as smoothly as possible.
Moreover, after Avowed dropping this year, there's The Outer Worlds 2, which is also in development at Obsidian. With these two major titles, even if Pillars of Eternity 3 is on the cards, we would say don't hold your breath.