Technically, there already exists one though .
This is 'BS Zelda', a downloadable game (yep, Nintendo did that first too) for the SNES released in Japan via the Satellaview add-on. Sadly, impossible to play today as the service stopped and the game never got released physically.
Oh, this could work for the ambassador program in the next months.
I was thinking more in a remake similar to Four Swords Adventures or make it 3D with Ocarina of Time/Majora's Mask artstyle.
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