UNTITLED Karate Kid sequel

Because of the success of Cobra Kai, its happening...

https://deadline.com/2022/09/sony-kraven-the-hunter-madame-web-karate-kid-1235121120/

I know it doesn't say alot that link. Wondering if they'll use any of the characters from the previous films & Cobra Kai or is it gonna be all new.

^ Dont think it says sequel.