
Siliconera:
"Producer Katsuhiro Harada and others from his Tekken team have been working on a new virtual reality project called Summer Lesson for the PlayStation 4’s Project Morpheus. While we didn’t get to see the demo during this year’s Tokyo Game show, Harada shared more about it in an interview with 4Gamer.
During the interview, Harada begins by explaining how the reception from fans was quite surprising, as even his co-workers didn’t even take much note of the project when he first began working on it."

Katsuhiro Harada: "I’d like to share that I’ll be leaving Bandai Namco at the end of 2025. With the TEKKEN series reaching its 30th anniversary—an important milestone for a project I’ve devoted much of my life to—I felt this was the most fitting moment to bring one chapter to a close."

Gamereactor: "The Tekken series is celebrating its 30th anniversary, and to mark the occasion, veteran Tekken director Katsuhiro Harada - who has been involved with the series since the very first game - visited Sweden and we recently had the chance to talk to him."
I don't think there's been enough new characters between Tag 2 to now to warrant a Tag 3.
Besides, there's that other Tekken game supposedly not canceled.... TxSF......
Tekken tag tournament 2 is one of my favourite Tekken games ever so I would love another one :)

Tekken 8 Interview - Tekken boss Katsuhiro Harada talks to MP1st about pluggers, adding the in-game shop post launch and more.