Based on my bit of involvement with Hollywood, and my substantial experience with car company execs, I would agree with 427heaven.
Personally, I'd love to see a sequel. Foyt and Gurney and Shelby in '67 is a great story. (Definitely not with Damon, maybe Matthew McConaughey.)
But, the reality is what 427heaven and others here have already said: The Hollywood of 2020 and beyond is not what it was when FvF was in development. And it's trending to get worse...lots worse. The 25-to-45-year-olds who control entertainment today unequivocally do not want to make movies for people of our generation anymore. The Ron Howard/Clint Eastwood type films will be limited to the life of those men, and their decreasing pull in Hollywood as they continue to age. Eastwood is a force unlike any other, with a big following. One he's gone, it's over for us guys who like the old days.
Rant over: Heading back to my side-oiler-powered rocking chair now, with a torque wrench in my hand and a hearty f-you to woke Hollywood.