Ooh! or how about a grown up Pip as a sky pirate! with the CMC and snips/snails as his crew, tasked by Princess Celestia/Twilight/Luna to find a powerful artifact of a pre-Discord era, with Spike to keep an eye over them.
 
…I always come to these things several hours late

@CottonTales
 
I was more talking about more like villain of the week stuff

Hey OP! how dare you to compared Giygas with that abomination that is G3.5?  
i mean look at her  
 
SHE IS CUTE!

what if G4.5 has almost nothing to do with the G4 universe  
they did it all other 2 times they made a .5 generation  
Tales well you can tell that obviously had nothing to do with G1  
and 3.5 is basically like an alternate universe G3
 
…well actually alternate universe might be cool

G4.5 can be set in the far future, where Equestria has grown mature enough to govern itself without need of immortal guidance. Celestia and Luna are living as regular ponies, disguised as mere mortals. Referencing the friendship reports of their long-dead students, they attempt to fit in and live as normal ponies, while trying to defend Equestria from new threats.
 
Sounds boss.

@NightJack  
Lol i actually don’t mind when they do that,but its nicer to see a new group inheriting the past generation,like Digimon Adventure 02,Inazuma Eleven Go and Saint Seiya Omega.

@d715  
isn’t g4 g1 with g4 style?  
unless you mean more focused on world building than actual characterization

^  
Can g4.5 be about the Princesses’ lives of trying to fit in society trying to be one of the populace while also fighting interdimensional monstrosities?

Because Celestia and Luna definitely need some fucking limelight

Well Hasbro seems to be smarter than most companies
 
g5 would probably be g1 but with g4 style
 
a prequel series would be great with Celestia being the main character and Luna has her own cmc

@Takuto  
As long as it’s not the kid of the mane 6.  
God I hate when they do that.

Fallout Equestria?

G4.5 will be a sequel to G4 having older Apple Bloom,Sweetie Belle,Scootaloo,Diamond Tiara,Silver Spoon and Twist as the new mane 6 and it will be called Friendship lasts forever.  
Jesus christ i’ve been watching too much anime.

All I’m saying is that now that Hasbro has a completely new additional demographic, they’ll cater a bit more to that demographic in the future. G4.5/G5 won’t be too different.

As long as they keep it 2D and give it a reasonable budget, it probably won’t be terrible.
 
Odds of a CMC spin-off seem high.

I know you don’t like it Impious, but I do it so you don’t get crunched when it happens, WHEN IT HAPPENS!

@Background Pony  
G2 didn’t have a cartoon.  
Only a bunch of toys and a video game were made.
 
@OP  
With the success of G4, it’s highly likely that there will be a G4.5.

Want a hug, Imp?
 
I’m right here, man.

I KNOW MAN
 
I KNOW

Sorry Impious, but that’s not optimism, it’s blind ignorance.  
Look at Hasbro’s track record, optimism would be if you hope that when they get to it it’s only something small, not thinking it won’t happen.

Don’t crush my optimism you dick

@Impious  
The whole “If it ain’t broke, don’t fix it.” thing won’t stop them, it’s been done with lots of other thing yet to companies screw it up anyway and all in for what they think will get them more money.

I think, knowing what works, Hasbro will be sticking with the G4 style from here on out. I don’t think they ever anticipated getting this much money from MLP. If it ain’t broke, don’t fix it. Hasbro loves their money, after all.

THE NEXT PHASE OF EVOLUTION
 
WHAT WILL WE BECOME

Since Lauren Faust planned a cmc spinoff, I guess that would be the G4.5 unless they don’t and the halves only occur in odd-numbered generations.