The Penguin Season 2 is happening after all!

[Billy]

‘The Batman Part II’ To Start Filming In Spring; WBD CEO David Zaslav Confirms James Gunn Writing Next Movie In “Super Family”

The Batman Part II will finally start filming in the coming moments as the long-awaited Matt Reeves DC sequel ramps up pre-production.

deadline.com

In his latest address to shareholders, WB CEO David Zaslav mentioned a bunch of upcoming projects by the company. For TzV, obvious picks like Peacemaker and Lanterns were mentioned. However, he also mentioned The Penguin, which means that the explosive ending might not be the end of Farrell's character.
The show ended with a Batman mural lighting the sky, so it only makes sense for Batman Part 2 to show up in Gotham Part 2, but Sofia could have a little bit of revenge in another season of the show before the Batman arrives, right?

 

[EmberVine]

Yeah, I could totally see that happening. The Penguin’s story doesn’t feel done yet, and that ending definitely left room for more. Letting Sofia go after him before The Batman Part 2 would be a great way to keep the tension going and make the crossover feel more natural.