The problem is that there are three organisations: the EPL, UEFA, and FIFA.
The EPL are unlikely to want to reduce the number of League matches as beyond the top six (or so), most teams fear relegation if the league was to be reduced to 18 teams as per the Bundesliga.
UEFA have just increased the Group Stages of the CL from six to eight matches.
FIFA have introduced an expanded World Club Cup taking place every four years. They have also tried to make the World Cup run every two years rather than every four years.
Put together this is unsustainable.
There could be up to 64 matches for English teams in club competitions every season. Every four years there could be up to another 7 matches for the World Club Cup.
That is before you factor in all the international matches for the European Championships and World Cup, qualifiers and finals not to mention the Nations League. There will be finals running every second year adding to the pressure.
The problem is that none of the three organisations appear likely to back off.
Tinkering around by, say, scrapping the EFL Cup will not solve this problem. Short of a breakaway league, the only solution is larger playing squads and ruthless rotation.