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Bethesda has stated The Elder Scrolls VI is something they are definitely going to do. When asked whether the team were working on the Elder Scrolls 6 back in June 2016, Bethesda’s Todd Howard answered “'It’s a very long way off. And we actually have two other large projects we’re also doing that are bigger than anything we’ve done. People will probably hear about those probably even before Elder Scrolls 6. And that’ll make sense many years from now.”
Multiple theories and rumors have circulated about where the next Elder Scrolls game will take place:
Argonia: The earliest claim was that the next game was set in Black March and would be called Argonia. This appears to have been a widely circulated but unfounded rumor; it's origins trace back to a fabricated news story.
Hammerfell: The second (and less popular) rumor was that it would be set within Hammerfell. This rumor was based on a copyright filing by Bethesda.
Valenwood: The third theory was that it would be set within Valenwood, based on a Bethesda memo unearthed back in 2014. The memo supposedly informed employees at the company that they were banned from “using or referencing” a certain list of terms, including Fallout: Nuka World, Elder Scrolls 6 and Project Greenheart. Greenheart is actually a city within Valenwood.