Discussions about Bayonetta 3 are reportedly happening at developer Platinum Games. The developer's co-founder Hideki Kamiya has previously teased Bayonetta 3, saying that the series should not end at 2.
In a recent interview at BitSummit in Japan, Platinum Games producer Atsushi Inaba revealed that he "would like to make Bayonetta 3." Inaba also confirmed that Platinum Games is "talking within the company even now about what to do." One of the things that the developer is discussing is whether or not Bayonetta 3 should have the same protagonist, the titular witch, or whether it should create a new one.
Inaba joked that "maybe there could be a male Bayonetta" and pointed out that "there’s plenty of precedent for changing protagonists, and so that is something we discuss." However, Platinum Games has yet to make a decision on who the star of Bayonetta 3 should be.
Unfortunately, it's unclear exactly when Bayonetta 3 would be released. Platinum Games is one seriously busy developer at the moment as not only is it working on a brand new IP, but the developer is still rolling out patches and updates for Nier: Automata, the PC and PS4 game it released earlier this year. Additionally, the developer is working with Cygames on two new games, including a mobile title called Lost Order and a PS4 exclusive called GRANBLUE FANTASY Project Re: Link.
It should be noted that Microsoft recently cancelled Scalebound, Platinum Games' much anticipated PC and Xbox One game. Though depending on how many people were working on that project, the developer may not have enough team power and resources to ramp up Bayonetta 3 development just yet.
Also unclear is which platforms Bayonetta 3 would be released on. Bayonetta is now available for PC, Xbox 360, PS3, and Wii U but Bayonetta 2 remains an exclusive game for the Nintendo Wii U. Inaba has previously confirmed that the second game in the series would not have happened had it not been for Nintendo's assistance (Nintendo published the game instead of Sega) so Platinum Games may end up working with the company again to make it an exclusive on the Switch, for example.
But with this said, Platinum Games seems to enjoy releasing games on PC, having recently released the previously console-only game, Vanquish, on PC. In this interview, Inaba also said that releasing future games on PC is "something we would really like to do going forward if we can." Fingers crossed that Bayonetta 3 will be a multi-platform release then, but there are no guarantees.
Source: Source Gaming