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 think Steven Gerrard still has a chance to manage again in the Premier league as his spell at Aston Villa wasn't so bad. It wouldn't be such a bad idea taking over as the next manager for Leeds United, I have faith in Steven Gerrard to improve Leeds and form a good partnership and connect with the a available players but he will need to do more to retain his place in the premier league.
I think it would be better for him to go back to the Scotland league to build his career there well until he has enough experience to build a strong team in the EPL and so far young managers like him have not shown good things in the EPL we will see Frank Lampard who is finally in sacked by Everton, it is different from Arteta who was finally able to bring Arsenal to the top because it was not only trusted for several years to build this team into what it is now but also financial support to be able to buy players with potential distributions to team achievement.