For a movie about the fastest man alive, The Flash has certainly taken its time to get made, but things are finally moving forward with director Andy Muschietti (IT). With the plot having changed several times over the past few years, Muschietti has confirmed that the movie will indeed have something to do with time travel.
Talking to Orden 67 radio show (via Batman-News), Muschietti has confirmed, "It is a story of time travel: Flash travels back to try to save his mother. It is a spectacular action movie but it has a big heart." This confirms the influence of the Flashpoint comic, but it's said that the movie will be of a smaller scale as compared to the absolute apocalypse that was the The Flashpoint Paradox.
Besides the time travel element where Barry goes back to save his mother, we don't have any idea where the story is going to go. It has been reported that Michael Keaton will be reprising the role of Batman for the film, but since this is more of a multi-verse deal rather than time travel, it's possible that it could be the big "twist" that Barry didn't change the past but rather just went to an alternate timeline where his mother was alive. I'm just spit-balling here, but this is the only way for Keaton's Batman to appear that would make sense.
Then again, Muschietti and his team could have something completely different in mind, and I'm always open to something not everyone can predict.
While all films are being delayed, for now, everyone is hoping that Flash manages to land its June 2, 2022 release date.