Mark Gatiss revealed in a recent interview that they wanted to end Season 4 with the room for a beginning. Steven Moffat also weighed in and said that Sherlock's character is now aware of his innate humanity, an important revelation that separates him from his cold brother, Mycroft.
According to Radio Times, Gatiss and Moffat are not entirely closed about the possibility of another season. In fact, the showrunners revealed during the interview that their initial plan was to run season 4 as the backstory and give the viewers a deep insight into the men Sherlock and Dr. Watson are known to be.
Gatiss also explains that Sherlock's emotional growth in season 4 leaves a door open for a lot of possibilities. Sherlock experiences a human connection not just due to Mary Watson's (Amanda Abbington) death but also due to abrupt appearance of his sister, Eurus, that he did not even know about. Moffat further explains that it is this newfound wisdom in Sherlock that will transform the famous detective into the Sherlock Holmes that fans love, the kind played by Basil Rathbone.
In fact, Gatiss and Moffat made a reference to Rathbone in the last scene when Sherlock and Watson were seen running out of the Rathbone Place. The showrunners reveal that they initially decided to splash "the beginning" on the screen, but decided against it as it would have been "too cheesy," the duo claimed.
According to Moffat's interview with Vulture, the writers already have the inspiration for stories in Season 5, should there be one. Gatiss wants to adapt "The Red Headed League" and wants to explore the Irene Adler element from "The Greek Interpreter." However, nothing is confirmed for now until official announcements are made.
Even though the showrunners are already thinking a step ahead, as far as "Sherlock" season 5 is concerned, it is still too soon to give a go ahead. The show's lead characters, Benedict Cumberbatch and Martin Freeman, are reportedly busy with their respective Hollywood projects at Marvel Studios, so it is possible that Season 4 might just be the end.