Let's see if this direct can live up. I honestly think the E3 Direct and the February Direct were the best ones we've seen thus far. My expectations for this are a lot lower since they have so many games releasing in the next few months, and most of them have gotten extensive coverage (Link's Awakening, Dragon Quest 11 S, Daemon X Machina, Luigi's Mansion 3, etc).
I'm kind of surprised no one is predicting a Paper Mario announcement. Intelligent Systems played a very small part in Three Houses - I don't think they even wrote the game. And considering all the Paper Mario talk, now would be a perfect time for an announcement.
I could also see Monolith's new IP being shown.