According to Team Cherry co-founder Ari Gibson, the studio is planning other games outside the Hollow Knight universe, so fans shouldn't expect a third installment in the coming years.
Gibson noted that Team Cherry would like to try their hand at other genres and different themes. The studio already has plans for new games with large-scale worlds, boss battles, and strange characters.
The developer cited time as the main problem: modern game development takes too many years.
We have other games planned. The only thing that really worries about time — and we've talked about this before — is death. It's not that far away if you spend seven years on a project, or even nine. So it would be great to manage to make a few more games.
The interview also revealed that Team Cherry is preparing several large-scale add-ons for Hollow Knight: Silksong. The studio will reveal information about the new content for the Metroidvania in the near future.