According to the writer of Young Guns and Young Guns II, the answer may be yes! John Fusco just made a not-so-cryptic Tweet mentioning another incarnation of the character with original star, Emilio Estevez, being involved. Here's the Tweet:
You'll see that Fusco tagged a bunch of other stars from the original films in addition to Estevez (even stars whose characters died in the first two). I see he also tagged Chris Pratt and Vincent D'Onofrio who weren't in either Young Guns movies, but WERE in the more recent western, The Magnificent Seven. Is some sort of crossover being planned? Possibly a graphic novel? What do you guys think? Please, let us know your theories below as this story develops further.