That being said, Lalo was killed in season 6, episode 8. After luring Gus into a trap beneath the laundromat, Lalo was eventually shot and killed by Fring.

Source: https://screenrant.com/better-call-saul-season-6-deaths-ranked/

The strongest possibility for a return would be a prequel about the rise of Gustavo Fring that could explore his early life in Chile and other intriguing moments that were hinted at during the shows.

Source: https://screenrant.com/breaking-bad-jesse-aaron-paul-return-super-bowl/