Quality over quantity is a virtue more game publishers should take to heart. GTA V's publisher, Take-Two Interactive, won't be going down the same road many AAA companies have chosen to take recently in annualising their most popular franchises.

Often have we seen that annualising the release schedule of a given franchise led to a marked decrease in quality. An interesting case study would be the Assassin's Creed franchise, which had got steadily decreasing review scores as the releases progressed. This culminated in the catastrophic release of Unity, being a horribly broken and poorly optimized mess.
Granted, all was forgiven after the smooth release of Syndicate, which was a pretty damn good game all-round, however the public only really regained their faith in Ubisoft after they announced that Assassin's Creed will no longer be an annualised series.
Take-Two has it's share of annualised franchises in the face of 2K's sports titles, however the core franchises such as Borderlands or basically anything made by Rockstar will be spared. Take-Two would rather see the next GTA be a long-baked masterpiece than a rushed cash-cow.
Take-Two president Karl Slatoff recently discussed this topic at length during a business presentation . A pressing question regarding this issue is that of investors. The AAA industry relies on them heavily, and it was generally investor pressure which kicked off the annual release trend in the first place.
It's tempting to have continuous releases and milk a franchise as far as you can, but we've seen that fatigue in other franchises in the games industry. With almost every single franchise for us, the latest release is bigger than the one before.
GTA V has proven that while annual released games with a big name to them can sell pretty well, it takes true quality and several years of development time to produce something that blows everything else out of the water in terms of revenue. GTA V continues to break sales records even years after initial release.