There’s such a mythology around LWPV2 and it’s a tragedy it never happened and we had to wait 6 years for a follow up when he was in the peak of his career, creatively and commercially. I think it was all triggered by a charity album he was doing, there’s a couple of dance tracks on there that were meant for V2 in some form I believe, but Sony were micro managing him at every turn and rejected them for a studio album?
Not sure of the specifics but I imagine he wanted to explore more club music and Sony were worried it would alienate his older audience and his American audience …