For me, Danganronpa 4 would take place several years after the anime and the killing game is made by an obsessed Junko fanboy/girl.
Monokuma is replaced by MonoJunko and it just goes overboard on "muh despair" and the mastermind is clearly trying too hard. Couldn't even get a full cast of ultimates and had to get either former ultimates that are adults or straight up reserve students.
idk I'm still thinking on it.