Of course they would....but would they pay? That's the question. Plus, would it interrupt her from working on more prestigious material?
I hope they can make it work. Her presence on such a show, regardless of her Oscar win, feels essential. She's an incredibly charismatic actress and her character is magnetic. Starting a show like S31 without her feels somewhat useless to me.
In a number of interviews where they were going over her career and talking about and promoting
Everything Everywhere All At Once (and this during the time they were talking about the Oscar buzz for the film); she mentioned more than once that Alex Kurtzman and her would get to do
Section 31. And she also did
Star Trek Discovery after her star was on the rise from her part in
Crazy Rich Asians.
She's done a number of streaming series roles after
Everything Everywhere All at Once.
Whoopi Goldberg was an Oscar winning, and she wanted to and did appear on
Star Trek the Next Generation for 5 Seasons: and even appeared on season 2 of
Star Trek Picard.
So I think it's a combination that if what they've come up with for her to do in
Section 31 is interesting to her; and it's something she wants to be a part of, and what kind of deal Paramount can make with her.
There's also the fact that Paramount+ is planning to expand its services into the Asian market; and they're not just wholeheartedly flashing production on a whim; they're just starting to make choices aligned more with their marketing strategy. So if they want to expand into the Asian market, a Star Trek series with Michelle Yeoh as the lead would fit that strategy very well.
Again that doesn't mean it's going to happen; but just because she's now won an Oscar, no I don't think it's out of the realm of possibility at all.
But time will tell.