Yzerman, Holland, and Co. are certainly aware of all the rumours about Yzerman coming back, and all the buzz/hype it has caused. And rather than firmly deny all rumours and put a stop to it, they've remained mostly mum about it. For that reason I don't think Yzerman would even consider going anywhere but the Wings. He has a 100% pristine reputation in Detroit, I imagine that still means quite a lot to him. It's still his home after all.
So given that Wings fans have been hyping themselves up for the return of the prodigal son for a year now, can you imagine if this happened:
I'm sure many (like myself) would respect that it's his choice and we're not entitled to him and that it changes nothing about his time here. But not all sports fans are rational, especially if they feel 'scorned'. There would be some sore feelings for a vocal contingent and it would affect Yzerman's status to some unknown degree.
Right now the narrative remains that Stevie is a Detroit boy through and through, and only left for Tampa to be a GM because it couldn't happen in Detroit, and did so with the blessing of the Illitches. But hard to imagine that reputation not taking a slight hit if the runway's all clear for a return to Detroit and he instead chooses a franchise he has no connection to (apart from fleecing in trades). If he was considering going to another team I think they would have done more to quell the hype. So he's either retiring to Detroit (less likely), or rejoining the team (more likely).
This also fits in with the rumours he wants to be closer to his family, which was the problem in Tampa. If he was willing to work away from home, why would he leave Tampa Bay for New York in 2019? It makes no sense to leave a team you built that is right in the middle of its Cup window for a team just starting its rebuild.