If the film eventually does break even we may eventually get a sequel, but the process will likely be slow moving and may sputter out before it actually gets into production.
I would suggest looking at Detective Pikachu for an example. It's a film from an even more popular IP than D&D, had a budget of around $150 million (around the same as D&D, and likely had a similar marketing budget), made $433 million (which is likely more than D&D will make in it's theatrical run) and there's been occasional talk of a sequel but the development just seems to be spinning it's wheels. Your guess is as good as mine if a sequel will ever happen for Detective Pikachu.
Ironically enough the success of the Mario movie may actually push things into high gear for Detective Pikachu 2.