If Ned is back, that certainly leaves the door open for a return from Murray himself, even if the episodic project might not be wholly focused on Phil again.
(A character that some have theorized is the actual string-puller behind Bill Murray’s time loop as Phil Connors.)
All things considered, it would appear that the Groundhog Day TV show would be an extension of the film’s world, where Stephen Tobolowsky portrayed the rather aggravating insurance agent Ned Ryerson.