Well, there is quite a difference as PB's only risk is that they might not get any additional jobs from THQ Nordic* but the financial risk lies solely with THQ Nordic for Elex.
Swen OTOH would have to bet a considerable chunk of the whole company on the -from scratch- development of a 3rd person action RPG that he may not even be too keen about and which he may not have the right people for at the moment.
You would probably want lots of people on board who have shipped crossplatform games with a popular third party engine like e.g. Unreal engine and with experience for a project like that. It's been quite a while since DKS so last gen experience from back then -if the people are even still at Larian- may not be too valuable today.
So, if this ever happens at all… well, maybe at their Quebec gig (with access to nearby Montreal talent from Ubi et al) if and when the company has grown tenfold in size and the Quebec office becomes all but independent.
It would be unfortunate if they never did a game in the same vein as DKS (I even liked the flying parts
) but Swen's interests seem to be more in the isometric, tactical/strategical games and multiplayer.
I mean the company's first game was a RTS and Swen was always a fan of experimenting with AI etc. and AFAIK their "luxury" project, i.e. the game he kind of always wanted to make regardless of how well it would sell was Dragon Commander so that's where his enthusiasm lies.
At the end of the day enthusiasm seems to play a large role for Swen. Just look at all the videos of him promoting D:OS. The enthusiasm is as fun as infectious and probably also a major reason for the success of these rather niche games. His marketing is brilliant because of his personality.
Even seasoned console mag editors will certainly remember a visit to any Larian booth where Swen is showing off the game. How can they not write a positive article of such a memorable experience even if the game isn't the latest Assassin's Creed or even if they did not understand 10% of the stuff Swen was blitz-talking at them?
Anyway, it is this very enthusiasm that I have never seen when he mentioned DKS or generally 3rd person action RPGs. He doesn't seem to be a big fan of such games so I doubt it will happen. Larian are currently in the super-luxurious position to make the games they want to make and not the ones they have to make to stay afloat.
I'm afraid that a DKS-like game is low on their "wants" list due to a mix of lack of enthusiasm, risk aversion and (current) lack of people who could even pull it off properly.
* BTW, Björn Pankratz revealed in a YT Q&A session this month that he has recently pitched the next post-Elex project. Unfortunately (but also naturally), he did not yet reveal to whom or what the project would be so it could be an "internal" pitch to whoever is calling the shots at THQ Nordic or a different/new publisher.