What changes do you want in the sequel? For me just a few things: Bigger, more varied open-world, if they're gonna have one it should be a worthwhile one, and in the current one you mostly just... fight shit.
Fix the stamina system, give us a true fast-travel system.
Random, dynamic encounters in said open-world. A dialogue system?
Fixing the pawns so that they don't "migrate" to new inclinations.
Finally, gives us more classes, more skills, make the story a lot better but keep the same lore. Give us more role-playing options like instead of some crappy fishing village house we get buyable houses, etc.
Itsuno has been working on it since 2019 apparently, if not longer, and we only have a logo. You may think that's a bad thing, but I find it to be a VERY good thing. This game needs a LOT of time in the oven.
I'd also like a better inventory system, as the one in game is just tedious. Also reduce the amount of trash material.
I found the climbing mechanics to often be rather finicky and I'd like that to be improved as it was one of my favorite aspects of the game but could work so much better.
Allow for multiple saves and have more frequent checkpoints.
A more interesting world. It's looks and feels very drab. I'd like more richness, depth and personality for the various locations, towns, and NPCs.
And finally fix the damage calculation system, skill should be able to overcome stat disparity.
I agree that it's objectively unfair that if you're outskilling a monster and been fighting it for 2 hours that you should have the right to kill it, so the damage calculation is bad.
However I do think it's pretty damn immersive that the game is like "nah man, learn the weaknesses AND the weakpoints, then maybe just maybe you'll be able to kill this big-ass creature."
I'm not saying it's a good thing that the game decided to go this approach, I just think it's kind of bad-ass when you finally killed it and gives you a "Monster Hunter" feeling, you killed it because you learned it's weaknesses. You hired a pawn that gave you an ice enchantment, or fire, or you climbed to it's eyes or wings and slashed away at it for higher damage.
Also I remember you saying you thought other games did magic a lot better then this one, if you don't mind could you name a few? I am curious because up till now I genuinely believed this game had one of the best magic systems... ever, and it's because of the power you wield with spells though I know quite a massive amount of people got turned off to magic because of the sheer time it took to cast them, no matter how powerful.
Also I enjoyed the upgrade system, and most of the materials have some use in the game. When you're drenched, use a clean cloth to wipe yourself down and get dry, if you have a skull, throw it to curse an enemy.
I think they should change the healing system, the way Dogma's worked is fine, and it doesn't have to be like Souls, where you pop a flask and then get interrupted by an attack...
But at the very least it could be like Skyrim's, where health returns gradually iirc, it's not instantaneous, and you can still die from a dragon's breath quickly if you're not careful or didn't heal enough.