Truth be told I'm not sure I even want a new Silent Hill game unless Konami outsources it to a competent outside developer. Konami already fucked up Metal Gear and Contra these past few years.

Best case scenario that I doubt will ever happen: Konami gives in and lets Kojima make the game he wanted to make all along, with Kojima still staying independent from Konami.

Alternate best case scenario: Konami gets a studio like Bloober Team (Layers of Fear, Observer, and The Medium, which by the way has Akira Yamaoka as one of the composers) to make a reboot or gets Bluepoint (studio that did the remakes of Shadow of the Colossus and Demon's Souls) to remake of the older entries..

Worst case scenario: Konami does it in-house but turns Silent Hill into a co-op beat-em-up.

Kojima could just make his own IP as a spiritual successor to Silent Hill. New setting and lore to do with what he wants and can give Konami the finger at the same time. Unlike something like Metal Gear, there's a lot less you have to have from the series to feel like one of those games. So starting fresh really wouldn't hurt it.