I'd be surprised, GTA seems to fill that gap. The cost of developing a city now probably exceeds what you can make back with purely a driving game. I'm not sure who owns it now as well, probably not any of the developers.
One of my mates had one of the earlier PC efforts, I remember being blown away by it being possible. The Xbox effort was fun, but didn't have quite the same impact. Still quite DICE though, Sienne Crossing in BF3 has definite echoes of the Paris map.
I still have the original game on PC, it was great. Unfortunately the open world racer is pretty much the domain of NFS these days, and I don't see anyone (even Microsoft, if they still own the franchise) competing with that now.