The CW wants a new DC-based show for the 2020-2021 TV season says network president Mark Pedowitz. During a Television Critics Association event (as reported by Deadline), Pedowitz said that he is looking for a new show to replace the soon-to-be-ending Arrow.
"The fact that seven years ago, we introduced Arrow, who would have thought it would have spawned six shows, a whole universe that they managed to create. It’s quite a remarkable feat," said Pedowitz.
Further, Pedowitz said that while Arrow is ending, he and the network don't plan on the other Arrowverse shows - Supergirl, The Flash, DC's Legends of Tomorrow, Black Lightning, and Batwoman - ending anytime soon.
"We believe in these franchies. This universe will continue for many many years," said Pedowitz. "Hopefully it will be a long time from now [before discussions about ending those series will happen.]"
Back in 2017, it was reported that Elizabeth Banks was producing a TV series based on DC's Traci Thirteen.
If the CW and DC need help on options, Newsarama has this handy countdown of options for their next DC-CW show as well.