Not sure they will ever make this with how poor Covenant did or if they do go ahead, it will be a cut down version of it, as no way they will throw a ton of money at it now.
I bet Fox wish they had taken a chance on Blomkamp's direct Aliens sequel now. I would have rather seen Ripley, Newt, Hicks and Bishop kicking ass again, than anything that Covenant offered. Ridley really dropped the ball with this