The more likely scenario might be for Fox to do a one-off movie of sorts, but that alone would be an unprecedented move that I don’t see happening.
So, provided Kevin Falls can get Dan Fogelman, Rick Singer, Fox and the actors on board, Pitch is good to go.
That may be a tall order for a network that doesn’t currently and, to the best of my knowledge, has never aired an original scripted series.
There’s always the chance Netflix could step in and bring the series back, as they’ve done with previously canceled Fox shows with high critical acclaim, but who knows what those odds are.