Frankly there should have been one planned to begin with. If the first movie was everything after the horse and before his return to Ithica, and the second movie was about his return and what all happens there, maybe the pacing wouldn't have felt so rushed and they could have done any amount of environmental story telling whatsoever.

[–] Rhaedas@fedia.io 3 points 4 days ago

I don't think there was enough to do a LotR treatment. Not while keeping interest from the first part to get people back for the second. I don't think the pacing was rushed as much as disjointed with flashbacks by necessity to explain why things had happened. Adaptations to visual media is difficult. We see it in every book brought to the screen. Maybe if we hadn't lost all the other stories in between.