Earlier today, Eiji Aonuma was front-and-center for the reveal of Hyrule Warriors: Age of Calamity. Before he revealed that title, Aonuma did comment quickly on Zelda: Breath of the Wild 2.
“Regarding the Breath of the Wild sequel, in order to make the vast world you enjoyed exploring in the original game even more impressive, the team is working hard on its development, so you’ll have to wait a bit longer before we can provide more updates.”
The way that statement is worded does make it seem like Breath of the Wild 2 is going to take place in the same location as the original. There was some speculation that the game would move to another location, due to the scene in the reveal trailer where Hyrule Castle floats away. This comment from Aonuma certainly sounds like they'll just be adding to the current setting.