I see no signaling from Panasonic about smaller models. Yes, they said that will make smaller cameras, but always saying that "creators" wants them. Creators = vloggers. And since looks like that Panny wants to niche m43 in video, probably their next camera will be a G100 sucessor - as Sony looks like that their APS-C line will be only ZVs...
Sensor wise, the m43 is kinda muddy now. Have the great 20mp stacked in the OM-1, but is a expensive sensor. Have the 25mp sensor in the GH6, but looks like it was designed from ground up for video (for still, from what I've seen, is worse than the old 20mp sensor). And the current 20mp old sensor. m43 needs a new sensor, 26mp probably (since APS-C upped their pixel count - for me, 20mp is enough), BSI, non-stacked but with good readout. Kinda a m43 version of the 26mp Fuji. But...no rumors about that.
Also, I think that Panasonic is indeed missing a HUGE opportunity regarding the LX100. Everbody paying huge sums for a X100V, and...a LX100 is a much more versatile camera. Still have my LX100 mk I, and for some time I had a X100s; the LX100 trounced it, specially in low light.
Put a better EVF (the G100 one is a good candidate), maybe a slightly larger lens that covers all the sensor, or keep the current one (in a 26mp sensor, would result in a 22mp image), a joystick where the rec button is, move the rec button to the top plate, and you're good to go.
(I look almost everyday for a good used / new price in a LX100 II - is the only camera that will make me sell my LX100)