According to sources, Will Smith will not be returning as Deadshot in Suicide Squad 2.
As reported by Variety, even though it appears Margot Robbie will return as Harley Quinn, Smith will be bowing out of the sequel to 2016’s Suicide Squad due to scheduling issues, although the “decision was made on amicable terms between both sides with no hard feelings.”
These same sources have said that the studio had wanted Smith and Robbie to return and have the rest of the cast be new faces.
Source: IGN.com Suicide Squad 2: Will Smith's Deadshot Won't Return For Sequel