There's still a long way to go before CD Projekt Red seriously commits to working on anything like The Witcher 4, but it certainly seems like the game is going to be the studio's next project after Cyberpunk 2077. The Witcher was too popular of a series to not make another game and CD Projekt Red will probably not abandon that world just yet.
While The Witcher was the first game developed by CD Projekt Red, The Witcher 2: Assassins of Kings showed major signs of improvement from the studio. And with the critically acclaimed release of The Witcher 3: Wild Hunt, CD Projekt Red firmly cemented itself as one of the top developers in the industry with an incredibly strong reputation. So naturally, these factors all came together to make Cyberpunk 2077 one of the most anticipated video game releases of all time before the game had a disastrous launch.
While nothing has been officially stated about the development of The Witcher 4, there have been many references to its existence and CD Projekt Red has alluded to the fact that it would like to continue with the series. After the failure of Cyberpunk 2077, a strong case could even be made that CD Projekt Red needs to make The Witcher 4 to restore some of its goodwill with fans. CD Projekt Red built itself on the success of The Witcher and if the studio hopes to repair its tarnished reputation, returning to The Witcher could be the best path forward, but the question remains as to how The Witcher 4 could be constructed.
The Witcher 4 Could Feature Player-Created Characters Like Cyberpunk 2077
It has been stated by CD Projekt Red that The Witcher 3 was the conclusion to Geralt's story and he would not be featured as the main character of a potential fourth title. Many fans have theorized that The Witcher 4 could feature Ciri as the game's protagonist, but it may be more likely that CD Projekt Red takes some inspiration from Cyberpunk 2077. This would allow players to return to the world of The Witcher with a fully customizable character at a point in time that has very little attachment to the first three games, perhaps even set in the past at a time where witchers were much more prevalent.
At this point, it's incredibly unlikely that CD Projekt Red would abandon the series completely. Given the current situation with Cyberpunk 2077 and its many bugs and glitches, there will probably be a significant amount of time until a new game in The Witcher series sees the light of day. What The Witcher 4 looks like by that point is anyone's guess, but it will indisputably be a very important title for CD Projekt Red when its time comes, since the studio will need to bring back some of its goodwill toward fans.