EU5 is going to get teased in a post-credit scene of Infinity War, or so the eggnog has lead me to believe.
What is interesting with the new (not so new now, but still) DLC policy is that there might never be an EUV or a CK3, because if EUIV and CK2 dies out, then they wouldn't have the will to create something similar. The only way for that to happen would be if one of those games die because of wrong direction or feature bloat rather than age. Otherwise, Paradox has no reason to invest huge amount of resources into sequels. Even then, the devs would probably have time to correct the mistakes.
That said, EUIV and CK2 should integrate some of their DLCs an get rid/rework some features.
Probably never as long as people keep buying from their terrible DLC system that makes the game pseudo subscription as pointed out above. Its certain to say that it will take still many years.
If it were up to me I'd start working on it right now, cause as the last updates show the game has little more to ffere and has no revolutionary ideas or new concepts or new chore mechanics. They just add new nations and provinces and some new buttons to give free stuff. But thats about it. But they are very good at marketing and they keep selling them so there won't be a new game for a long long time.
Thank god for the modding community.
Thats hardly never going to happen when every idea they have they put it in a DLC and keep selling instead of storing and building upong those ideas to release new game, is it?
I don't see where EU4 can go anymore tbh.
Well, not before a CK lll (and a Victoria lll, if they will ever make one).