The first two Venom films have been a huge success at the box office and there is no doubt that the studio would want more films surrounding the alien symbiote. While a third film has not been announced yet, there are now rumors that they are currently working on a spin-off.
According to The Hashtag Show, Sony is currently developing a Venom spin-off film that will feature Agent Venom. It is said to be focusing on Flash Thompson, who will be the new home of the symbiote as it will separate from Eddie. This version of Flash "will skip over the connection to Peter Parker and will instead focus on him being a wounded veteran with who Venom bonds with." There's no director or actor attached yet, but they are looking for a Tom Hopper-type to play the role.
This project hasn't been officially announced by the studio or reported by the major trades so we have to take this with a grain of salt. If it is true at all, it is an interesting direction for the franchise as it would be a huge departure from Eddie Brock, who is the main character of Venom. This might be the studio's way of continuing the Venom films without Tom Hardy, who might be committed to other projects in the near future.
Given that this will be a different iteration of Flash Thompson, that would also mean it wouldn't be connected at least to the MCU since the character there is played by Tony Revolori and is still in high school age.
Sony is currently working on a lot of Spider-Man Universe films. They have Morbius which is coming early next year and Kraven the Hunter which is currently in pre-production. There are reports that they are also developing a Madame Web film and a Spider-Woman film directed by Olivia Wilde. Recently, they slotted two release dates in 2023 reserved for their Spider-Man Universe films.
Venom: Let There Be Carnage is still showing in theaters.