It won't be called the Xbox Two. It was called the 'One' because it was one platform for everything, sort of thing. 'Two' is a serial progression, never entertained by MS to date, and placing it 3 generations behind the PS5.
Xbox
Xbox 360
Xbox One
Xbox something-other-than-two
Anything from Xbox XT to XBox Life Enriched to XBox 4K, but absolutely not Two.
Xbox
Xbox 360
Xbox One
Xbox something-other-than-two
Anything from Xbox XT to XBox Life Enriched to XBox 4K, but absolutely not Two.