Even if there isn’t a literal signed contract, Disney seems to have an understanding with George about not tweaking his movies, and they seem intent on honoring that.
It seems that way, which is unfortunate. Even if it were green-lit, would have the bottle or vision to even take on such a task?
The Prequels could really do with a Special Edition release, they have not aged well at all for me. And aspects of the story, pacing, CGI and direction could all benefit from an edit, as some of the editors on here and other similar websites have shown.