I think they could with a Scholar of the First Sin type of update. The problem isn't only that the game is repetitive (in fact that isn't a problem for me,) but that it's also grueling (as From Soft games generally are.) I think changing the open world and making it less grueling so it contrasts heavily with the dungeons would make the game feel much less fatiguing. I started a new playthrough of the game and really enjoyed the first few areas, whereas I hated the lategame areas. I believe that is because the early game areas have less enemy density and are more relaxing and immersive, and when I feel ready I can take on one of the legacy dungeons and go into the fray.
Dunno if anyone here has played WoW but I was a fan of it in the past. The lategame areas of WoW (vanilla,) like The Western Plaguelands have few/no friendly towns or inns, an insane density of very tough enemies, very few isolated friendly npcs, and are very dark with a grim atmosphere. This is great in WoW, you've journeyed through comfy forests and beautiful locales and now for the last few levels you have to go through hell. In Elden Ring nearly the entire game is like this, there are no friendly towns, very few friendly npcs, and the entire world is covered in difficult enemies that want to kill you. That can only be enticing for so long before you just get fucking sick of it.
