I bet they still have not decided where the hell to take the series; we still don't know if they are going to refilm the original novels or go for original material.
After what happened with the Beast films, WB is not sure how to keep the Potter Money Train rolling.
Come to think of it, they had mixed sucess with the LOTR revivla also.
(Yes, I know that Rings of Power was shown on Amazon Prime, but it was produced by New Line, which for all intents and prposese is just a bench of WB studios.