I believe that there will be a pickup in Raptor trim after gen 3. It's too valuable to dump. Look at how they're trying to spread the name around. But. How good will it be off road? Weight is a killer, so EV is off the table. Hybrid? Dunno. Kinda heavy. I guess we'll have to wait and see.
EVs are still a fraction of the market, and there are lots of hold outs. I'm sure they'll be able to find ICE engine customers through to a Gen 4....assuming Gen 4 happens before 2030.
After that point, quite possible we'll have batteries with much better energy density. I mean anyone who knows anything about that tech understands it means a huge pay day if they can figure it out.