Hi Einstein_Reborn_97,
This is really an interesting question.
There are actually two stems to this question:
1) The Tempest transcending time (both Shakespeare, but also how authors continually re-frame their texts)
2) Hag-seed transcending time as an individual text
So this would have a dual evaluation:
for point 1: The Tempest, to a significant extent, delves into the intricacies of revenge and its complex interaction with societal restructuring. This is an inherent aspect of humanity, and so his texts endure as composers - time and time again - decide to reframe his texts.
for point 2: Hag-Seed, to a limited extent, would be able to transcend time and place. The contemporary areas of concerns, though significant are narrowed to the struggles of the past two centuries. Even though her text aligns with most of Shakespeare's core concerns - composers would elect to re-frame Shakespeare over Atwood, because of pragmatic universality. This was something Atwood mentioned herself: "I come and go, but Shakespeare, Shakespeare stays." The issue of recidivism rates, disproportionate incarceration and corporate backstabbing are significantly contextual, and focus on critiquing modernity that Atwood has always had a passion for and which she achieved through Shakespeare's Canon. Hag-Seed would always seen as an appropriation of The Tempest - and so future composers would more willinging start from scratch and present their interpretation of the "universal" Shakespeare over trying to edit the works of Atwood - who had a powerful, but narrow purpose and message.