Yes they should.
Get Garth Ennis to write the script. NO ONE ELSE.
The problem with that is they would have to reboot the movies series again and they already did it twice.
I mean the first movie was bad but it was a product of its time, a shallow 80s action film, the second movie was bad, but not offensively bad, it was just sub par, they could have made sequel set in NYC staring Thomas Jane and in the right hands that would be a good film.
The third film is nightmarish, its the perfect **** storm, bad acting, bad story, everything looks ugly and manages to be very campy, yet very mean spirited at the same time. Its like a movie version of Ultimates 3. This one made the second one look like Citizen Kane.
I think they would need wait 10 years before trying to make another one, that's how bad the third one was.
Now Garth Ennis writing the script is a good start, but they need a director to make this stuff work (like Nolan did with Batman or Raimi with Spider-Man) and they need good actors to sell these characters (Warzone had some of the worst acting I have ever seen.)