If he does live, I wonder If he may get a Kronsteen kinda death, like From Russia With Love in Bond 23.
That would be a bit of a waste. Why have him survive QOS if his appearance in the next film involving Quantum would have him being punked out after only 2 to 3 minutes of screen time? If he survives QOS, then have him be involved in whatever Quantum is planning in the next film involving them, his second encounter with Bond most likely being his last. If he doesn't, then the "big fish" can take a more active role in things.
Kronsteen survived the novel, and probably would have encountered Bond in a later book if the early 1960s Cold War climate hadn't prompted Fleming to drop SMERSH as Bond's enemy.