https://wccftech.com/okami-2-chances-kamiya/

Okami 2 is not in develeopment, but a member of the original's development team is confident that it will happen at some point.

Speaking during an interview with IGN Japan, Ikumi Nakamura, who worked on the original Okami as background designer, revealed that a sequel to game is the project she wants to make a reality the most. After quarantine is over, she is planning to pitching the project to Capcom. She also added that she wants Hideki Kamiya to direct the game, as he is the director of the original.