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Originally Posted by Joshhhp
Well there are quite few reasons for it. The series already went quite for more then a decade and when FMP IV aired many people lost interested and it just wasn't very popular. It didn't do to well in sales and the studio Xebec who animated FMP IV ceased to exist as a business entity on May 31, 2019. And also when it comes to production value the series was struggling a lot especially during the second half of the season. On top of that I heard that there isn't much material left to adapt, apparently it's barely a season left to end the series. Now I'm not saying that a sequel is impossible but it needs to be a BIG miracle to happen.
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With the way Invisible Victory ended, it's only a matter of time (and they can always find another animation studio), and sales of the anime don't matter anymore.