It seems that Death Stranding may very well get a sequel at some point down the road, according to Hideo Kojima, but if it does, it won't be a follow-on from the first game, instead opting for something different.
Speaking with Vulture, Kojima stated that the second game would be unique, and that he "would start from zero." - this could presumably mean technologically, but starting from scratch suggests something that's completely different from the current game creatively.
He did however say he wants to work with Norman Reedus again, so his appearance in any follow-up, or even something else, isn't ruled out.
Death stranding is out now on PS4, and will be coming to PC in 2020.