Guillermo del Toro’s Cabinet of Curiosities is a “coming later in 2022” anthology TV series “by a team of writers and directors personally chosen by del Toro”. The advance blurb now notes…
There’s also one episode based on an H.P. Lovecraft story.
But it doesn’t say which. “Cool Air” would probably be the most viable cheap-to-film idea. Being short enough and mostly filmed in a one-room set with a cast of two. But with the potential to have a bit of retro dieselpunk-ery injected into it in terms of the apparatus and city, maybe done in a slightly over-the-top Terry Gilliam manner.
Also, a British indie movie of “H.P. Lovecraft’s the Shadow over Innsmouth” is in production in 2023, at least according to the IMdB. Though only “loosely based”, and possibly the same as the already available full-length movie Markham (2020) from the same scriptwriter.
Another “loosely based” forthcoming movie is “H.P. Lovecraft’s Witch House”, said to be very amateur and going straight to steaming in July 2022.
There appear to be two Lovecraft adaptations. Keith Thomas and Catherine Hardwicke’s episodes are both described as being “based on … short stor[ies] by H.P. Lovecraft”. The stories themselves are not named.