Seems like the sequel will be called Lost Judgment.
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A new PlayStation Store listing for a Judgment sequel just popped up. This leak on PSN indicates that this sequel will be called Lost Judgment and will be available for the PlayStation 4 and PlayStation 5.

The store listing for the game indicates that the game will be available in two flavors: Standard Edition and Digital Deluxe Edition.

As of right now, Sega has not made any official announcement about the game, so details are very scarce. Of course, we'll share more details with you as they are made available.

Thanks to AllGamesDelta on Twitter for first bringing this to my attention.