According to a report in the latest Wrestling Observer Newsletter, Triple H is budgeting for a second NXT show that would allow more members of the black and gold brand to gain valuable ring time:
Paul Levesque is going through budgets trying to find a way to implement some type of a show that would get more NXT talent ring time and exposure. They aren’t going to do house shows but they may add something in some form
It was actually reported a few months ago that the idea for NXT Underground was pitched. This would have been a place for lesser-user NXT talent to get ring exposure before being promoted to proper TV.
A pilot for the show was reportedly shot way back in the Summer of 2019. However, the plans that WWE had to debut the show were postponed as a result of the COVID pandemic.
At the heart of it, NXT was a place to develop less experienced talent and make them TV ready for the main roster. Now that NXT is on TV, having another show to do this wouldn’t be the worst idea at all.