mystral: Planescape: Torment 2 is like Baldur's Gate 3 imho; unnecessary and unwanted additions to great RPGs that already had a good end to their story.
What story would you tell in in an hypothetic PS: T 2 anyway?
The Nameless One is done with his torment and having a new PC would feel wrong.
GameRager: Nope....a GOOD title in an established series could be both wanted and fun. Also a new PC could also be cool, and such games could be prequals and not just sequals.
Just because it's an established series doesn't mean it can be revived.
The market has changed too much since then, and at best further games would end up like Fallout 3: good games in their own right but nothing much like the originals. At worst it would be just tacking on the name onto something awful, like the new "Ultima" title planned by EA.
Neither a sequel nor a prequel would make sense in the case of PS:T btw. Setting TNO as a prior Incarnation would make it a Failure is the only option thing; not really fun. Even before would ruin the mystery about what his great sin was. And anything set after Torment's ending would probably be a letdown storywise.