Bray will go to AEW as a Singles Star.
The most obvious thing for any big star released from the WWE to do is to go to All Elite Wrestling. Bray Wyatt obviously wouldn’t be able to use the name Bray Wyatt or The Fiend, but that wouldn’t stop him evolving his WWE characters to be something similar, but different enough to not get AEW in legal disputes.
The great thing about Bray’s character is that there has been continual reinvention. We saw the Fiend torched and come back as a burnt up version, so it could just be that the masked wrestler gets himself a new grotesque mask and could be known as The Inner Demon, or the Big Bad Wolf (complete with knocking to play off the Wyatt phrase Let Me In) The possibilities are endless.