Some people forget that "open world" is a design decision, while good narrative, writing and characterization are core game elements. The fact that hugely popular games like The Elder Scrolls series are "open" AND lack any kind of good story and characterization has nothing to do with the ability to merge the two.
As Blothulfur said, a good modern example is Fallout: New Vegas. Even considering the limitations of Bethesda's Engine, Obsidian managed to create a world we could freely explore while developing a well-narrated story, with meaningful characters and situations. I am positive CDPR can do better than that especially considering they made everything from the ground up. TW1 and TW2, for example, could perfectly be "open world" and keep their original stories. We could be able to go back to the outskirts after entering Vizima, we *could* go back to Vizima after reaching the lakeside and village in Chapter 4, but we have no reason to do it (and it could be dangerous). In TW2, could have the option of visiting Flotsam, the Kaedweni camp, Vergen and even Loc Muinne but events wouldn't trigger until we've done certain things. In real life, we *can* go anywhere we want but we don't seem to wander around aimlessly, do we? We don't show up at the theater without tickets because we couldn't do anything.