I think there is ample room to explore the past, present and future.
By the past, I mean let Ridley Scott finish up his prequel series.
By the present (I know it barely applies) I mean the core period circa the first 2 films, where we could have an epic Alien Isolation movie perhaps a Dredd vibe?), and an adaptation of the Cold Forge.
The future, would be a continuation from where Aliens left off. It should feature the survivors from the Aliens film. The time for more classic Ripley has come. The success of the recent Halloween film shows that there is great potential for a classic heroine, a mature woman, to bring audiences in droves to the theatre. The Halloween continuity has been all over the place. The truth is, who cares? The casual observers are the ones who fill the theatre seats, not the hard-core fans. Bringing back Ripley is an opportunity to push the limits of what women can do. It is an opportunity for an enduring heroine, to inspire a new generation of girls and women to find an insurmountable inner strength, and pursue all challenges.