Of course it's not gonna happen, you fools.
What's there to gain?
Some people, who like being loud in social media for woke points, would be briefly ecstatic before moving on, maybe they'd see the movie once or twice.
DIsney might get some progressive brownie points from the media and sjw circles. You'd get the same benefits from any gay character tho.
What's there to lose?
Elsa is Disney's most iconic character in decades. Frozen sold $1,3 bn in the worldwide box office, but something around $8 bn in merchandise by now. It's insane. Elsa is the most important moneymaker for Disney atm. That merch is mainly sold to little girls - to the straight parents of little girls.
If the parents are displeased by Disney turning the character their daughter worships into a lesbian in a sneaky bait-and-switch move 6 years after she gained popularity as a "normal" Disney Heroine (=not gay), that's gonna leave a REAL bad taste. It feels like trickery or manipulation.
Fuck, even the people pushing for gay Elsa have been fantasising about the rage of the straight parents, "too late your daughter loves a lesbian character now!" It's a disastrous, reputation-destroying move, even at western markets - not to mention the more conservative foreign markets.
Box office moneypales in comparison to the merch money. There's billions at stake. Are the queers gonna buy dolls and whatnot year after year in thanks for lesbian Elsa? Didn't think so.
Plus, Frozen so far has been about Elsa's true love for a woman (her sister) saving the day. In official art she's constantly lovingly gazing at Anna while holding her hands. The message in F1 was that love doesn't need to be romantic to be true - but if it'd turn out that Elsa's been romantically into women all this time, while so intensely focusing on Anna and no-one else, it'd taint F1 too with sibling incest allusions.
You'd fuck up the Frozen brand, Disney's current crown jewel, in many ways, beyond saving.