Do you think Will might die in season 5? Or El? :(
I think Eleven is at a higher risk of dying because she's not "safe" anymore. They couldn't kill her off before the final season because it wouldn't make sense, but now? I wonder if they're going to pull a "one cannot exist without the other" kind of thing, like in Harry Potter. I mean look at the Volume 2 poster vs Deathly Hallows:
It feels to me like they're setting up a final confrontation between the two of them in which both of them will die. The two of them are so linked that it wouldn't surprise me if that's the root they go down. Plus this season is going full circle to S1, a season in which Eleven sacrificed herself to kill the demogorgon, so I think an Eleven death is a high likelihood.
In terms of Will, I'm less sure. I hope not, I hate seeing gay characters die again and again. He's also been through so much suffering that to me it would feel unnesessarily cruel to the audience to kill him off. But on the other hand, he does have a lot of material for Vecna to use on him so who knows. Also, he's very protective of his loved ones and he'd easily put himself at risk for them or to protect Eleven. Also, requited or not, they're going to have to address his feelings for Mike so I think more time would be devoted to that than to setting up his death. Overall though, I feel like he's less likely to die.
I'm just as clueless as the rest of you guys when it comes to the plot, but I hope my thoughts made sense. Thanks for the ask (: