It is still rumored that Steven Gerrard will return to the Premier League as a manager, having previously failed at Aston Villa, he is on the list being considered for the new Leeds United manager, but doubts he will be able to improve Leeds' position as he has also failed to do so at Aston Villa and his experience at Rangers doesn't seem to be enough to make him great in the EPL as a manager.
https://www.thesun.co.uk/sport/21322506/steven-gerrard-leeds-manager-shortlist-sacked-jesse-marsch/I would be very surprised, if Steven Gerrard would not get at least one or two more chance as a manager of a Premier League club. He was just to good, to important and to popular as a player back then, so i am pretty sure that he still has a lot of credit among the club officials in the premier league. That being said, i am still not sure, if Steven Gerrard really has a lot of talent to become a great manager, because the fact that you were a great player that was coached by great managers during his career does not automatically mean that you are also becoming a great manager. Some players are just not fitted for that role.
Steven Gerrard has everything it needs to be a decent manager. Even if he failed with Aston Villa, this does by no means mean the end for him in the EPL. What I like about him is that he is also a nice human being, gives reasonable press conferences and doesn't freak out like a maniac or behaves in intolerable ways. I would also deem him an expert who is constantly willing to improve.
Aston Villa was also a tough first task. That's more like a 50:50 thing. If he screwed it with Liverpool that would be a bit of a different story, but failing with Aston Villa could as well have happened to any other manager.