I dont think if will be possible with TDUSC being in Hong Kong and the general political instability with USA vs China, specially if results of 2024 election in USA favor a anti-China stance politican
That said, i think that could be Singapore (that has a big Chinese population, 74% of population. also it has the biggest presence of Xbox in Southeast Asia), in fact would be BIG for franchise host a place in 1:1 scale in a realistic way and with lots of elevations and view spots/drift spots
View attachment 1321745
Here are some drift/touge spots in Singapore
View attachment 1321748
It seems have lots of roads for highway-type racing as well
View attachment 1321750
Lets not forget about the Singapore GP there as well, likely the roads between could be used as well
The Chinese cars could be still there, ther apeeal continues since it have a big Chinese ethinic population in the region, not just in SG but in Malaysia and neibough countries too
Edit: FYI , The total area of Singapore is only 710 square meters, with a width from east to west of 42 km and from north to south 23 km.