This could be by modification of the K70 aperture control solenoid but that may leave room for doubt in critical minds. The K70 may be updated or replaced, however, one thing that I feel Pentax must do is to finally and completely nail the ABF issue. Personally, I think a lower cost entry to the Pentax system than the K1 ii/K3 iii will be needed into the future. The discussion of what might make a viable replacement entry level camera is of interest. A smaller, lighter camera with a different "look and feel". I would make an KP II - 1200 dollars, updates to AF, video and a few added features.
Now, an updated KP would complement the K3iii in Pentax' product portfolio better than the K70 - with an update of the latter it will compete hard on price with pretty much the same features except build. To me the KP was poorly positioned - the K3ii still available at a much lower price, while being more powerful on all but one point, the KP had the better sensor. I chose the K3ii and that was largely bc of value for yen - The KP was more expensive while having less features and feeling less solid. Remember it was quite a lot more expensive and I suspect each sold unit have brought Pentax a higher profit than k70 or K3ii. On basis of what I gathered from the sales guys there, I'm not sure KP was such a failure. The one that didn't appeal to me was the k70 and that was because of how it felt in my hands - the one aspect you'll never capture in a spec sheet.
When I last looked at cameras (and bought one) I was in Tokyo and therefore I was able to try every bloody model. If they leave the aps c with only one body, then I'm afraid I'm out, though, and I suspect I'm not alone. It will be destined to compete hard on price vs features. Like Wheatfield I cannot see them making any money on a K70 update. In short, what do you want to add to justify almost double the price but less than a k3III? I don't know.I'm not really known as a business savvy person, but I also think the K70 will be the last of its kind. The k70 is still very modern, adjustable monitor, wi-fi, light, good sensor, pixel shift, 4K time lapse, multi-exposure. There was kp and it was a good route, but it doesn't seem to have been very successful, I don't know what more would be appreciated that kp didn't have. I have a hard time imagining the features of a camera above the k70 and less than the k3iii.