Let's start off with facts:
These are not new but help keep things grounded.
Fact 1# Steven Caple Jr (Creed II) is the director.
Fact 2# Joby Harold (also working on the Disney+ Initiative Wan Kenobi show) is handling script duties.
Fact 3# the movie is set for release in 2022. This could easily change but that is what they are saying at the moment.
Now, for the rumours, and as always, assume false till proven true.
According to speculation website The Illuminerdi, the next Transformers movie has gained the working title of...Beast Alliance (this is likely to change, if true of course).

Now while you take that it, let's discuss other things mentioned in the article:
Transformers: Beast Alliance takes place in the Bumblebee timeline and will be set in the 1990’s. The film will have the flavor of a heist film that will span from Brooklyn to South America.
Caple and the production are currently looking to cast either an African-American or a Latino actor in his early to mid-twenties for lead role, along with a female co-lead as old or even slightly older, who can pass for a native New Yorker. Unfortunately we were unable to get a double-confirmation of what Transformer robot characters are slated to appear in the upcoming film.
So first off, the idea is to leap a few years in time from the end of Travis Knight's Bumblebee film, presumably breaking it from connectivity with the Bay helmed films (as stands Bumblebee still works as a prequel to 2007's Transformers movie and supplementary material further reinforce it with Megatron being held by Sector 7).
Next, if true, we could be seeing Beast Wars characters a lot earlier then the proposed (but not officially picked up) Beast Wars movie.
There's no solid proof that this is the direction the live action movies will take. If it is true, however, then it will raise the questions of how the Beast Wars cast will fit into a narrative featuring the Autobots in the present day, and if they would use the cartoons scaling or the Kingdom scaling where the Maximals and Predacons seem to same sized as their predecessors.
Now, we turn over to you, the reader.
Do you think there's any truth here? Or do you think that the rumour is beryllium baloney? What path do you think Hasbro should take with the cinematic Autobots and Decepticons?
Let us know in the Energon Pub and stay tuned to Seibertron for all the latest news and reviews!