Because it is becoming harder to find good developers willing to deal with licensed game bullshit. Licensed games do very little for the studio. Telltale was a clear example of that. The studio doesn’t get anything from merchandise sales or anything else gained from the strengthening of the brand. Disney owns the Simpsons and they don’t have any studios under them to actually produce a game. They would need to shop it out to a studio with low aspirations.

Idk if it could work now, part of what makes Hit and Run click is those early 2000 graphics and early Simpsons humor

It’s because the rights to the game are in legal limbo. Even Fox don’t know who owns the rights to it because of how many times the original publisher folded into others that then collapsed under itself before it technically became a part of Activision (but not fully they piecemealed it).

It’s basically impossible to make the sequel to this game