If they are smart, they will take a step back from the Open Air Zelda style and give it some room to breathe after the inevitable 4K Remasters/ Switch 2 upgrade of Breath of the Wild & Tears of the Kingdom.
While both games were roaring successes, Tears of the Kingdom doesn't seem to have the legs that Breath of the Wild does, and may end up selling 15 million copies less which is a pretty significant drop. Releasing another game in this style will likely stagnant the series or follow in worse sales.
Neither which is what I imagine Nintendo would want. I remember hearing plans of them having a Zelda related title on a yearly basis, but with Echoes of Wisdom probably not selling better than the Link's Awakening remake... Again I suspect they will slow their roll on that plan.
With the apparently strong upgrade Switch 2 provides, a classic 3D style Zelda game could be the best path forwards to keeping the series invigorated. Utilizing the hardware for some impressive visuals, a focus on dungeons and better combat mechanics would likely be the best route for the series in the interim. It would provide fans what they have been clamouring for, and at the same time allowing anticipation to build for another open air Zelda game to follow afterwards.
Timing is important here though, the classic Zelda style game should release in the next 2 years, and following that the Open Air Zelda should follow within 3 years. Tears of the Kingdom simply took too long to come out after Breath of the Wild, though a big part of this had to do with COVID I'm sure.
Nintendo has had a long time to plan the success of their next console, the games to accompany it, and most importantly bolstering their staff to accommodate the new Switch.