Erica Durance will reprise her Smallville role of Lois Lane for the CW's upcoming crossover event "Crisis on Infinite Earths," according to Deadline. Although not confirmed yet, if she did she would be joining fellow Smallville alum Tom Welling who's already confirmed to be returning as Clark Kent.
The Hollywood trade goes on to report that despite multiple Superman actors reprising their roles,, Durance's Lois Lane is the only planned Lois Lane in the event. That would conflict with Entertainment Weekly's July 2019 report that Elizabeth Tulloch - TV's most recent Lois Lane, from CW's Supergirl - would be reprising her role in the fall event. Deadline doesn't rule Tulloch out specifically, but says only Durance's Lane is scheduled to appear - and does rule out Lois & Clark's Teri Hatcher.
For Durance, this would be her second appearance in the Arrowverse - she recently appeared in CW's Supergirl as Alura Zor-El.
"Crisis on Infinite Earths” will crossover Arrow, The Flash, Supergirl, DC’s Legends of Tomorrow and Batwoman in a five-episode event, with three episodes airing in December and the remaining two airing in January.