Sable has gotten more likely out of his continued absence, which isn't unusual for many eventual ATs, keep in mind. There are still plenty of ATs left to go, but he does seem like the type of character Sakurai would be interested in reviving by including him in Smash as a hint to his next project.
He would likely have his neutral special be a transformation that cycles through human, frog, and then snake. While in the forms, he has access to a few attribute changes both good and bad as well as their unique abilities. Sable's whole strategy revolves around transforming on the fly depending on the circumstances, just like he does in FTFTBT.
If Sable was going against a ranged fighter, he could use the frog ability to manuever around projectiles and match their range with his tongue, which can be used to catch them in his mouth and spit them out. Or, if he's too far offstage to recover as a human, he can become a frog and use a higher jump to successfully return.
If Sable was going against a fast fighter that could overwhelm him, he could use the snake transformation to bite them and turn them into blocks which allows Sable to put on some decent damage. If he needs an escape route due to high damage, he could transform into the snake to slip underneath hitboxes or climb up walls where his opponent couldn't immediately reach him.
Those are just some ideas. I just wonder if he'd have access to a full moveset while in the transformations because the frog and snake forms can't engage in full battles and that would mean making three movesets from the ground up with the limited resources the base game has to work with.