Where there's a will, there's a way; even beyond ports like Hogwarts Legacy on the current Switch, there's a long history of games being crammed into hardware far weaker than they were designed for if the publisher decides to make the effort; Doom on SNES, the 7th gen COD games on Wii, Doom 3 and Half-Life 2 on original Xbox, etc.
More than hardware power, it comes down to how much effort and resources the publisher is willing to invest to make it happen; after the enormous success of the Switch, third parties will likely be approaching the successor with a lot more enthusiasm than they initially did the Switch.