A Demon's Souls remaster is completely possible, but the games original developer, FromSoftware, will not be a part of it's development. In a new interview with Gamespot, President of FromSoftware and Director of Dark Souls, Hidetaka Miyazaki, clarified the misunderstanding from a previous interview.
"The Dark Souls series is Bandai Namco Entertainment's IP, and Demon's Souls and Bloodborne is Sony Interactive Entertainment's IP. Hence, the decision to do a remake or remastering is under their jurisdiction," said Miyazaki. "For me and for FromSoftware, I don't think we'll be involved with their happening, but it could happen through another developer."
Demon's Souls is the precursor of the Souls franchise. It was originally released exclusively for PS3 early 2009. Despite receiving great reviews, the game remained a sleeper-hit and didn't gain much attention until Dark Souls was in development.
While FromSoftware could be in charge of the remaster if they were asked, the studio is currently busy developing a new IP after concluding the Dark Souls franchise with its third entry. Two DLC packs will be coming out for Dark Souls 3 and the first one will be released in the fall, which should include the usual fare of new bosses, locations and fun weapons.
When asked what Miyazaki wanted the legacy of the Dark Souls franchise to be, he said, "I think it would be great if something from the Dark Souls series stays with the players as an experience which holds meaning and value to them. What stays with the player forms their opinion on what the Dark Souls series was about, and that's something I appreciate, regardless of what players think of the series."
Personally, I would enjoy it immensely if FromSoftware could return to a sci-fi setting and develop the successor to their Armored Core franchise because I'm missing that feeling of hyper-speed robot action.