In a interview with Polygon Hideki has reveled that Platinum games is looking at opportunities to create Bayonetta 3.
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I can see Sony or Microsoft funding a 3rd game since Bayonetta 2 did while on the Wii U of all things. With that said I see Nintendo funding a 3rd game since it would be a perfect 3rd party exclusive on NX and they have been pretty friendly with each other in recent times.
Hideki Kamiya wrote:To answer your question straightly, yes. It's actually something I've been thinking a lot about. We've talked a lot about it internally at the company and I've written some outlines for what the game would be. And I feel really confident it would be cool if we got the chance to make it. Right now, we're looking at opportunities... If that opportunity ever came up to make Bayonetta 3, that would be really, really cool."
Source
I can see Sony or Microsoft funding a 3rd game since Bayonetta 2 did while on the Wii U of all things. With that said I see Nintendo funding a 3rd game since it would be a perfect 3rd party exclusive on NX and they have been pretty friendly with each other in recent times.