But he will not be the Main Villain as Marvel Confirm that Nightmare is the Main Villain alongside with Karl Morodo. Now that the Time Stone is reduced to atoms along with the 5 Other Infinity Stones.
I wouldn't want Dormammu to be in the movie if he wasn't going to be the main villain, that's kind of what happened in the first Doctor Strange. I think they should use this movie to explore a lot of things outside of what is already established.
If they are going to do a Doctor Strange trilogy, I can them having a new villain, like Nightmare, with Mordo. Mordo, might be like Magento, where he is not full evil, but has a very different view and philosophy than the hero. Any ways, Dormammu have an influence in the conflict of the second film, leading to him being released for the final film in the trilogy as the main villain.