I would love it if they did that. I really would. To make it somewhat seem realistic in my wishful thinking, they could have the ride start where Shrek is (This would be Shrek's replacement), go past WaterWorld, run past the front and through CityWalk, backstage around WW and then back to the station. To help keep the noise down, the supports could be filled with sand (Like they did with the Mummy) and have scream shields on the restraints (Maliboomer). They could even have a few scream tunnels along the way. It would have to be another type of coaster as the one in Florida is just too low capacity and has experienced too many problems (B & M like Hulk maybe?). If they did that, it would be isolated into the property enough where it wouldn't create too much noise for the neighbors.
The unfortunate thing is, it's realistically unlikely. It just seems too risky. If they have to keep the noise down for WaterWorld after a certain hour for the neighbors, even with all of the sound barriers they have been installing, I'm very doubtful. I think Mummy is as close as we're going to get to a having a descent coaster. It's nice wishful thinking though. Not realistic, but if they really wanted to, I think...I think this time...it's GOING TO WORK!
They could build a new area for it and have it whip through the lower lot.
It is not possible to build a coaster in the lower lot because it is right next to the studios. They have strict sound limits there. Even the mummy's track had to be filled with sand.
After harry potter world is installed, what room do they have left to build on? But knowing Universal, they will cramped something somewhere.