The short answer is no, there is not currently a planned sequel to Into the Woods.
Some possible reasons for this could be that the original story is a classic fairy tale that has been told many times, so there might not be much more story to tell. Additionally, the movie was not a huge financial success, so there might not be as much interest in doing a sequel.
If you're a fan of Into the Woods, there are plenty of other similar fairy tale movies or shows that you might enjoy. For example, Once Upon a Time is a popular TV show that features many familiar characters from different fairy tales.
