As someone who used to have a penis and wants one again, I have very high standards.
This is bad because meeting them is going to be a pain in my ass.
Here's some information about next generation penis technology that I've been keeping my eyes on the past few years.
Please feel free to add your own information and I'd love to hear about what ideas you think might help things.
Pedicled Gracilis muscle based erectile control
This appears to give voluntary erectile control after a period of learning. Additionally it provides enough rigidity to do some kind of sex, presumably penis-in-vagina since the study participants didn't elaborate. Everyone has these muscles so there isn't much limit to where it could go.
https://academic.oup.com/jsm/advance-article/doi/10.1093/jsxmed/qdac022/6986025
Complete Human Penile Scaffold for Composite Tissue Engineering: Organ Decellularization and Characterization
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6841966/
Dr. Yu Tan under Dr. Coon seems to have expanded significantly on the work that previously had been led by Dr. Atala, et al. Dr. Tan went above and beyond, starting some preliminary work on reseeding.
The Atala lab worked on a rabbit model back in 2009, which we can see here: https://www.pnas.org/doi/10.1073/pnas.0909367106
The jump from rabbit to human is large and I hope to see a continuation of this line of research either from Dr. Tan or Dr. Coon's lab.