A third Danganronpa game is currently in the works over at Spike Chunsoft, although the game is still in its very early stages of development.
The writer of Danganronpa Kodaka Kazutaka spoke with Polygon about the game saying nothing in the game has been set in stone. “Until everything's been written, there's nothing that's set," Kazutaka said. "So to answer your question, it's still very early because the scenario isn't written yet."
As for what kind of game it’ll be, both main Danganronpa games have involved similar setups which involves characters trapped in a situation they need to escape from. A spinoff game is currently in development that will play as an action-adventure game, so how Danganronpa 3 will play is unknown at this time as fans of the series have been vocal about future titles.
"It's pretty much split in the middle in Japan," Kazutaka said. "Half of them want to continue with [a] small group and what happens within there, and the other half wants more of the bigger story."
I, for one, hope Danganronpa 3 will continue with the familiar setup of having a small group working to escape from an unknown situation. If Kazutaka-san wants to branch out to other scenarios, then spinoffs would be the best route to go. I also hope the Danganronpa series finally makes its way to a console at some point as it deserves mainstream attention.