There was a 32X console, Neptune, that in the end never launched.
It’s worth remembering the Mega CD was actually pretty old by the time the Saturn arrived, at least in Japan. It wasn’t some dying breath add on, though obviously had limited appeal. Though given Nintendo came close to launching the same idea but didn’t, there’s presumably opportunity to nudge it out the way.
The 32X was a dumb move, and putting Neptune alone up against the PlayStation and N64 would be even dumber.
Best bet is to stop the 32X from happening and have Sega realise 3D is the way to go, giving a Saturn more inline with that, and where AM2 and 3 were going with their arcade tech. A Saturn that does better, without consumers having a negative impression from the 32X in particular, gives Sega a better position next time round, and likely doesn’t force them to go, with the benefit of hindsight, too early, with their next console.