I cannot imagine that Take2/Rockstar would give their license to make a new entry. But what would maybe be possible: Use the existing world of V (again!) to make some episodic content for it. So many shows play in L.A. …
Instead of wasting time to build a whole city with traffic and so on (and be much worse than the city, Rockstar build already), just use the existing world and play the story of some Netflix original there.
Not that bad, if you ask me.