I doubt they'll show us the concepts. We'd probably get a better response if we posted stuff for them to consider as references.
To me, it seems like the main problem they are facing isn't what his gear or magic looks like; but Taric himself. As in, how do you convey his persona accurately? Flamboyance seems to be the major hiccup.
Honestly, I think the solution is actually fairly simple.
1. Keep his long hair
2. Give him a warm, welcoming smile in the new splash art
3. Save the bits of flamboyance for VO
To clarify, I am not attempting to trivialize his character; just simplify the situation.
Let's examine the human/humanoid male champions with visible or mostly visible faces:
Not a whole lot of genuine smiles. We have a couple of smirks here and there but the rest are mostly action faces or a focused, grumpy look.
Braum has one of the most likable and warm personalities but you'd never guess that from the splash. Meanwhile, a ruffian like Graves ties Nunu and Corki for smiles that actually look like they are due to happiness/enjoyment.
New splash art should have the medium-long, glorious hair, still untied as opposed to going the Xin/Yasuo route. Armour, weapon and his overall stance can convey the badass guardian/protector look well enough. His face should be conveying that he is approachable and kind fella that also makes the an effort to look like a stud. Key difference should be Taric grooms with practicality and beauty in mind, as opposed to the other males who wouldn't be bothered. If his look in the splash art gives you the right vibe, the battle is half won.
If you want an example of mismatched artwork and persona just look at Braum's art for a second; sure, he's extending his hand to help you but his face is serious/intimidating as shit. His look doesn't say, "Here, let me help you up", instead the vibe you get from it is more of a, "The battle is not over. Come, we have much to do". But then you get in-game and you realize he's one of the bubbliest, friendliest blokes you'll ever meet.
Draven is a good example of artwork matching persona. That smile and overall look of his face conveys his self-confidence and enjoyment of the task at hand quite well. You get in-game and you experience exactly what you'd expect after looking at the splash, a guy that enjoys throwing axes at people and is pretty self-absorbed.
They need to make sure we can see that Taric is a swell guy from his splash and maybe convey his emphasis on appearance by having his locks sway in the wind or something. I mean come on, which other the man talks about gems, style, divinity, vigor, and harmony.
Aesthetically, I'm sure he'll look great; he has a unique motif for weapons and armour as is. I'm pretty confident they'll manage to make him look special while also fitting in to/with whatever part of the world he is supposed to represent.
The biggest fuck up would be a bad VO or the updated Pink Taric skin not looking outrageous fabulous. He will benefit from having a similar VO spread like Braum; plenty of both battle-relevant stuff and regular lines that tell us about his character.
That said, I think Taric, Poppy and Warwick are big updates that will have unavoidable QQ. People aren't going to be completely happy and Riot should just prepare themselves.
, Aatrox 
(Taric representing the Protectorate Avatar, Leblanc the Magelord one with her Black Rose organization, this also ties in with Aatroxes lore, possibly even Summoners Rift since it Blue side architecture is what I think should be an large inspiration to Tarics appearance and lore, Skarner because he is a crystal being and Tarics armor is full of crystals). I also would like to mention that since Tarics Full Relaunch would be at the same level as Sions, this would be a perfect time to flesh out Summoners Rift, a place we knew and still dont know nothing about in some aspect and make it more meaningful in the new world of Runeterra. The story of the location/battlefield of Summoners Rift is what I think links almost all of the main conflicts that revolve around Rune/Crystal magic (probably even a new take on Rune Wars).
