Chris Evans reportedly won't return to the Marvel Cinematic Universe for The Falcon and the Winter Soldier. However, it didn't take long for reports to circulate that Evans could be returning to the MCU after all.
The possibility of Evans playing Captain America again came before the revelation that Marvel Studios began developing Captain America 4. While Evans was the star of the first three Captain America movies, which were all incredibly well-received, the fourth entry is positioned as a leading vehicle for Mackie's Captain America. The sequel is written by The Falcon and the Winter Soldier head writer Malcolm Spellman and staff writer Dalan Musson. And while plot details and casting information aren't readily available, Evans isn't expected to be in Captain America 4 as any form of Steve Rogers.
Marvel's decision to keep Evans' Captain America out of Captain America 4 was likely made for several reasons. One of the main explanations for Steve not appearing could be how the studio handled his presumed MCU exit. Avengers: Endgame not only gave Evans a great exit from the shared universe, but The Falcon and the Winter Soldier indicates Sam and Steve don't see much of each other anymore. The Disney+ show wouldn't even confirm if he was still alive, off on the moon, or somewhere else. While Sam and Steve can cross paths again at another point in the MCU's future, Captain America 4 doesn't need to be where it happens. And if he isn't a natural fit for the story Spellman and Musson are telling, it is even better for Marvel not to force a Steve cameo.
Audiences are also relatively fresh off seeing Steve Rogers as an older man at the end of Avengers: Endgame. Marvel Studios knows that the return of Evans will be a massive moment that will inject even more interest in the MCU. Bringing Steve back in Captain America 4 could make that moment happen much earlier than Marvel needs. Instead of saving Steve Rogers' next MCU appearance for something like Secret Wars, featuring Evans as an old or prime Captain America so soon wouldn't deliver the same impact. Furthermore, it isn't easy to imagine Evans appearing in Captain America 4 and not overshadowing Mackie's spotlight in some fashion. It could even make the ing of the Captain America mantle more difficult for some to accept if Steve is still going to be around.
While the Captain America 4 plan could change to incorporate Evans' MCU return somehow, his expected absence isn't too surprising and likely the right call by Marvel. If they can make The Falcon and the Winter Soldier without Steve Rogers, they can make a Captain America solo film too. Ever since it was reported Evans could play Captain America again (reports which Evans has seemingly denied), it was repeatedly mentioned that this was a separate project from Captain America 4. Details on what Marvel is planning for Evans' MCU return are still a secret, but the multiverse opening in Phase 4 opens up even more possible avenues for it to happen. Evans will presumably be back at some point, but it doesn't look like that will come in Captain America 4.