Picture this:
Skyrim + lord of the rings.
Same places, but all free roam. It doesn't need to have the same story as the books, they could think of a different story. I think that skyrim nailed the RPGs feel, and other games should adjust.
Or
Skyrim + Harry Potter.
Same principal. Free roam around the school, learn magic, create your own new spells. You don't need to play as Harry. Heck, even if you went to one of the other schools (like durmstrang) that would be sick, even more creative freedom.