I will be very surprised if he is sacked this summer.
If Ineos wanted him sacked, he would have already been gone. All our supposed replacements are free agents bar Southgate. It makes 0 sense to have this long and drawn out "analysis" only to sack the manager.
If they wanted a replacement, ETH would have already been sacked and the replacement confirmed. So far it's quiet on all fronts, which indicates that the manager's agents aren't being contacted and talks aren't ongoing.
As such, I think Erik stays and this whole "we are conducting an analysis" is just PR to give you a good impression of how competent Ineos is.
Just you watch, they will do the same thing with Greenwood and reintegrate him back into the squad.