Perhaps an Extreme?
If those M1-M3 die pictures are all to the same scale, then probably not. The M3 area size > M2 area size > M1 area size. The M3 bigger ( to point had to subsume the UltraFusion area for 'stuff' ) means there is a serious incremental bloat issue here.
Multiple chips would mean even bigger areas consumed which leads to even bigger latencies to resolve.
If there is a change here , it is more likely it is to a smaller 'building block' chiplet. If building with smaller blocks then more likely not getting 2x and 4x more peformance. Getting more performance than a laptop Max with a 'double die' but not chasing mega Nvidia dies either.
Apple used InFo-LSI for the Ultra's previously. That is limited to reticle size ( last slide deck I saw) so if your 'building block" gets too big than can't fit inside of reticle with even two 'blocks'. Let alone even more of those ever increasing size blocks. Decent chance here that Apple has blown past the limit and might get a monolithic version that is a bit les than 2x more. ( or move to more chiplet decomposition and get more than just a two , but not massively much more as will need to cover going 'down' from Ultra-zone as well as up.).
Decoupled from the Max volumes there is a serious cost issue here.