No, I don't see it happening. Oddworld hasn't exactly had good experience with leasing their characters out. Even Game Over was a flop, though I understand that's a bit different.
Plus, where would the mysticism and complex characterisation be in a racing or fighting game? Munch's Oddysee was going to have featured drivable vehicles, yes, but I can't imagine a whole Oddworld game using that kind of gameplay.