I myself, think it unlikely.
Besides having ruled out any further involvement with the franchise in 2006, James Cameron is unlikely to throw out some of those films. He follows Ridley Scott's ideas of the story. As far as the studio is concerned, their trust is in Scott and it's his vision of the franchise that they're interested in.
“Alien: Covenant” stumbled at the box office. Is that franchise over?
It was a disappointment, but I trust Ridley [Scott] and Emma [Watts] to know the right story when they find it. When universes are as rich as “Alien,” they can stay in a too familiar groove — in which case you’re in trouble — but they can also find a planet or a storyline or a villain that also lives in that universe that can be groundbreaking.
https://variety.com/2017/film/featur...ar-1202563799/