Here are my guesses for Wave 2, which I assume will be sometime in 2023...
The original announcement that Playmates would start releasing a new line of toys included a couple of teases that weren't part of Wave 1, so I'm gonna say we get those as part of Wave 2.
Those teases were:
1. Captain Pike (from Discovery/SNW, and in the TOS era uniform)
2. Spock from Disco season 2 (with a beard, and in civilian (I guess it's civilian?) clothing)
3. Jean-Luc Picard from Picard season 1
And I'm gonna be hopeful and say that Wave 1 will sell enough for Playmates to issue more figures for Wave 2 than they did for Wave 1. My guesses aren't for which characters I want to see, just the ones I can see them releasing as the big sellers, and one or two that won't sell as much but they'll release "for the hardcore fans" or whatever. I'm thinking the first LDS toy will be geared more toward that "hardcore fan" in Playmates eyes, and unfortunately probably DS9 too. Also, I just don't see many more Discovery options for the first two initial waves. After this second wave maybe. Michael and Saru would be the best sellers from that series and I just can't see any other character being that sought after until after more of the bigger characters from the franchise are released. Just my view, don't yell at me.
4. Captain Kirk (in TOS uniform)
5. Uhura (ditto...from TOS)
6. Worf (from TNG)
7. Q (in judges garb)
8. Borg Queen (from First Contact)
9. Benjamin Sisko (as captain, with the First Contact era uniform)
10. Captain Janeway (live action version, from the later seasons of Voyager...no hair bun)
11. Seven of Nine (in one of those one-piece outfits she wore all the time on Voyager)
12. Beckett Mariner (since the Prodigy toys look cartoony, so will the LDS toys)
I think the next logical ship release is the Enterprise-D. Maybe a TNG era phaser or tricorder.
Prodigy toys in 2023:
1. Rok-Tahk (obv)
2. The Diviner
3. Drednok
4. Captain Chakotay