I'm torn about whether I'd want a direct continuation. It has similarities to the changing tone of the spy shows/movies and their satires that inspired it in that things change over time, and the reception to the feminism angle would be different now. A sequel would likely mean moving the time period on again which has additional challenges.

I could definitely see starting over with a reboot, which would also give the studio involved a chance to dodge all the rights issues by doing a 'spiritual successor' and renaming everything. 25 years later you're likely trying to attract newcomers much more than you are fans of the old games that want specifically more NOLF. I'd also be interested in a cold war era spy thriller that played it straight, real spy history has a lot to pull from that could be weaved into an intriguing story to play through, and NOLF did touch on some of the issues around spying like taking advantage of people.

This. This was such a charming game series.