One might think Keaton's appearance in the "Morbius" trailers confirm that the movie takes place in the Marvel Cinematic Universe, as the actor's version of the Vulture debuted in "Spider-Man: Homecoming." Yet Sony has definitively told GameSpot otherwise, meaning that while Keaton's back as the Vulture, the chances of any Avengers that aren't Spider-Man showing up seem pretty much nil. However, should Spider-Man appear, which is perfectly possible, as Variety reports that Disney and Sony's current agreement doesn't prohibit it, there's the matter of which Spider-Man it could be. Some, including CBR, have speculated that the Andrew Garfield version could return, especially given the events of "Spider-Man: No Way Home." Sure, Garfield told Variety that his Peter Parker isn't slated for another comeback, but he's not exactly the most reliable source of information on that particular subject.
A more likely cameo, however, might be Venom. Not only has "Venom: Let There Be Carnage" and "Spider-Man: No Way Home" confirmed Tom Hardy's Eddie Brock does indeed live outside the MCU, but Sony has stated that its Spider-Man Universe counts the Living Vampire among its inhabitants, which is presumably Brock's home as well. Bring them and the Vulture together, and you've already got one-third of a potential Sinister Six, whose movie has been teased for some time now, per Vanity Fair.