They will have to share with Indonesia, and likely a 3rd Asian country. Maybe NZ is a better alternative. Presumably the Asian countries will bring much bigger commercial opportunities to the table.
However's Australia's relationship with Indonesia is often strained, esp at a political level. It's only ever an Aussie drug trafficker execution in Bali away, from foundering on the rocks. Any joint bid will not be smooth sailing.
Maybe FIFA who seem to like to keep even the minnow countries happy, are open to the idea of a few World Cup pools in their smallest confederation.
For sure a longshot, but you don't know until you ask.