Which part? Machine has been busy with Wolfenstein. Arkane has been busy. Tango has been busy and I doubt they're up to that kind of game.
Perhaps id Software but that would be really odd.
Bethesda Game Works has MUCH larger fish to fry and they obviously have a ton of work on their plate with Elder Scrolls. They did open another studio in 2015 so I suppose that is possible. We have no idea what level that new studio is at, however.