There is speculation that YG might not release a 4th gen GG. Instead they will focus on Blackpink, Big Bang member releases/concerts, and expanding their other divisions, like YG+ - their most profitable projects. Why have their own 4th gen GG when every NewJeans album sale is their profit at no risk?
YG cares a lot about recovering their reputation, and having their next GG be a flop is a risk they might not want to take when they have the biggest GG in the world already. NewJeans is likely to win Korea and Blackpink is working on world domination, so what does that leave for YGNGG? Another Treasure with mediocre performance? YG hates second place.
Teddy has been responsible for almost all of YGGGs' hits. I'm not sure Teddy is physically capable of producing for two groups at once. He struggles with just one group and a soloist. Teddy is also working on his own NGG that might debut around 2024-2025, assuming he wants Ella Gross to be a member. Will Teddy even be involved in YGNGG? If not, 2nd-3rd place might be the best they can hope for, so they'll just skip 4th gen and save their best trainees for the next gen.