Ready Player One writer Zak Penn has recently confirmed that the new Matrix movie won't be a reboot or a remake, and it looks like Warner Bros. is planning to expand on the universe, possibly exploring the past or the future of the original films. With rumors coming out that Fantastic Four star Michael B. Jordan is going to star, fans have suspected that the movie could be focused on a young Morpheus.
In the original trilogy, Morpheus was played by Laurence Fishburne, and the character was the one who introduced protagonist Neo (Keanu Reeves) into the "real world." With the new Matrix possibly being a prequel, it would most likely delve into Morpheus origins, how he woke up from the Matrix, and how he ended up being the leader of the Nebuchadnezzar ship.
According to Birth Movies Death, Warner Bros actually wants to set up a writers room for the Matrix franchise, with films possibly focusing on events before, after, and during the original trilogy. This is very similar to the way Lucasfilm is dealing with the Star Wars franchise, having a sequel trilogy, and some anthology movies that jump around the timeline as well.
There's still no official release date for the new Matrix movie, but more news is sure to pop up once WB finds a script they're happy with.