The world needs more True Lies like... uh... er... it just plain doesn't
Yeah, nobody can relate to that future, especially when the characters weren't even all that engaging. It's best to leave the future as brief scenes like in T1, while relating to people in the present.
Right there, that's why the obvious route is a reboot or some more time travel. And if that weren't enough, you'd think they might take a formulaic approach by looking at other franchises that rebooted when they were in the shitter. Star Trek and Batman are two pretty good examples of success.
But neither of those two franchises were firmly anchored to a certain geopolitical moment or a single iconic star who's permanently aged out of the (original, at least) role.