Most certainly. Especially since Bandai Namco suffered so much loss with all the Blue Protocol stuff. Shadow of the Erdtree came at a really good time for them.
I'm not that familiar with Kings Field in all honesty, but iirc it was a first person dungeon crawler of sorts?
A next gen version of that would indeed be something to get excited about.
Yeah, it was a first-person real-time dungeon crawler. The King's Field games are slower-paced and, imho, have an even more oppressing/depressing atmosphere. There was also the Shadow Tower spin-off series, which gave you guns as well. In my opinion, the King's Field games and the Souls games are different animals.