I can imagine Disney creating some rides that compete with the Wizarding World, as long as they're willing to embrace (i.e. spend money) on new technology, such as that used on Forbidden Journey.
But I have a hard time imagining them making it as immersive. Hogsmeade and Diagon Alley are richly described areas, well-developed in the books with a variety of familiar store fronts. Their old European layout, with short twisty streets, are ideal for amusement parks. What does Star Wars have? A desert, a forest, and a glacier. Oh, and an underwater city that many of us would prefer to forget. They could probably do something with Mos Espa, involving markets and a podrace stadium. But are any of the Star Wars locations places you'd want to visit as a tourist in a galaxy far, far away?