According to Gamereactor Far Cry 6 will please those who didn't like Far Cry 5's U.S. setting. Implying that the next Far Cry will not be set in the U.S. Which unsurprisingly would mean that its not a direct sequel to Far Cry 5 or Far Cry New Dawn, with the failure of Far Cry New Dawn.
Voice actor Michael Mando stated that his character Vaas from Far Cry 3 would be returning soon, which could imply some kind of sequel. although it should be noted that voice actors are a notoriously poor source for accurate news, and often seem to get the wrong idea about upcoming games.