Not that it matters really, as long as the basic elements of the series are kept the same, which Lords of Shadow did not do at all.
According to Cox, the basic elements of Castlevania are "man with whip fights monsters in world of nightmare." Everything else is subjective. Not saying I agree with his opinion, lol
I think a return to the canon timeline is very possible though. Despite being dubbed a reboot, he has always hinted that LoS was never meant to replace the canon timeline, it just takes certain aspects of it to do it's own thing. And call me crazy, but it seems the higher-ups at Konami still have a vested interest in keeping "Akumajo Dracula" intact, since they didn't want to call Lords of Shadow a official Castlevania at first (until, of course, Hideo Kojima stepped in). Even THEY thought it was too drastic a change. Which is why I don't understand the argument some people use that Konami will continue to use MercurySteam to make another LoS game after LoS2 is release just because it was a financial success. They could just easily pick another studio, throw money at them, and tell them to create the next big CV game with the production values of LoS but to keep it in line with the more "traditional" CV games/aesthetic. I can picture WayForward releasing a game that falls within the canon universe, but the exact year could be left ambiguous, like OoE.