No one knows. Anyone who says they know is pulling your leg.
FCC has been rattling this around for a while. Doesn't seem like much has happened in the last few years. There were lots of comments made by the public, with lots of varying ideas about what should happen. There were lots of suggestions about what "should" happen, but no decision has ever been made by the FCC and I haven't seen/heard anything that suggests they are actively working on it.
If -if- something happens, there will be a lot of discussion. It's clear that the FCC has lost control of GMRS, that happened when they allowed "dual service" radios, FRS and GMRS in the same radio. That blurred the lines between a licensed service and a license by rule service. It's unlikely that the cat will ever be forced back in the bag.
Likely outcome is that FCC will either leave it alone, or institute some sort of gradual migration from what GMRS is now to something watered down and licensed by rule, but I could be wrong.
Serious GMRS users would fight this. Lots of money invested in repeater systems. There are also still "grandfathered" business users on GMRS. Could be we'll see something like MURS, where it's license by rule, but grandfathered commercial users get to stay.
Should be interesting, if it ever happens.