It was reported back in February that both Jennifer Love Hewitt and Freddie Prinze Jr. were "in talks" to return for an I Know What You Did Last Summer
Until she finds out what role they would cast her as this time. Hollywood is not nice to women that aren't "29" anymore.
But if she wanted to switch to the "scary movie" franchise, she could probably get whatever role she wanted in scary movie 14, or whatever they are up to now.
Edit: I suppose if the roles they are both hoping for is to Cameo as the parents of the new kids, they can probably get that.
Every time I hear Jennifer Love Hewitt, I remember back to the Howard Stern episode with the lead singer of LFO. He has a pretty funny story about her that starts at the 5 minute mark.