A10X and A12 are pretty close in terms of graphics performance, so if Apple chose the A12...they're not doing it to upgrade the system. To me, A13X is more likely now. Apple will use the same SoC in the updated 2020 ATV as in the 2020 iPad Pro lineup, just like they did back in 2017 with the A10X.
More likely an A12X.
In 2017 there was a gap between iPad Pro and Apple TV. ( June vs September.). If there is an A13X ( they may wait for a process shrink at A14/A14X ) then it would depend upon how much of a feature/performance gap the put between that drives the cost up.
The A12X will be a "paid for" chip option for AppleTV. Apple has already spun it as "good enough" for entry console game action.
"... which Apple says provides the power of an Xbox One S in a device with a far smaller power budget. ..."

The 2018 Apple iPad Pro (11-Inch) Review: Doubling Down On Performance
Apple's 2017 Apple TV also came with a substantive price raise too. In the current competitive streaming device space that is not an asset. Apple may toss it around as an "also affordable gaming" box for a partial value proposition, but if they crank the price even higher still. The AppleTV app being in substantive number of new TVs means essentially competing again "free" as a price point for the primary, basic function of the device. Saddling Apple TV with relatively expensive A13X chip probably would hurt as much as help.
Since 2017 AppleTV has substantially lost share in its market. Matching high costs of the latest iPad Pro wasn't the best strategic move Apple has done for AppleTV. There isn't a good reason to repeat it.
2020 is also a year where the gaming box market is in the "wait for refresh" mode. AppleTV isn't up with the upper part of the market ( top end PS and XBox) , but even if Apple wanted to move up further with an A13X/A14X the average baseline is moving. Doubtful they are going to "beat " the other with newer silicon when the others are also moving to new implementations.
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