This is off topic but Australia and other Asian SE nations would probably prefer to split from Middle East to create and East and West Asia. The current confederation doesn't really work because it covers too big an area and there is constant fighting between the traditional Korean and Japanese power houses and the new money in the Gulf over who controls the confederation.
If that happened it would make sense geographically to combine East Asia and OFC. The issue is that the East Asians have no interest, and there is no benefit, to taking on OFC which contributes nothing other than costs (putting it harshly). Plus there is no real road map to splitting the confederation in this way. The West Asian confederation would be very rich but would be weak on the pitch.
This comes up in the Aussie media from time to time but it's basically a bit of a pipe dream. If Aussie, Japan, China and Korea got together they may be able to make it happen. But there's no real impetus to split that way as yet. Mike Cockerill writes about it, you can look it up in the SMH archive.
Personally I think there is 0% chance of OFC and AFC merging as they currently work. Way too big an area and nothing to be gained for AFC other than an additional half spot.
FIFA have pretty much said the WC will expand from 2022 to 40 teams which means more fun for everyone. Highly doubt anyone is going to split or merge. 1 Oceania, 1 Europe, 2 Asia, 2 African, 2 'American'. If 2 Asian nations are being added that all but guarantees West Asia with at least 2 places. AFC could even come up with some kind of regional based qualification themselves.