Any chance, "The Rising," event can be reactivated?

Have some friends who missed out due to some crazy recent weather events.

Unfortunately for your friends, I can't see them reactivating the event.

they'll have to buy the items that were available for it next year off the mogstation.

Sadly, it's a seasonal event that only occurs once every year around the same time (the Rising celebrates FFXIV ARR's launch and metaphorical rebirth from the disaster that was 1.0), and each year features a new quest, with the previous years' events no longer being accessible (SE actually mentions this in the event info page for every seasonal event on the Lodestone). Item rewards from seasonal events are often added to the Mogstation for purchase much later though, so the 'Cheep Dungeon' minigame and the items the event rewarded may probably be available in the future.

But sadly the event is gone for ever I'm afraid. :(