https://www.cbr.com/transformers-7-d...bro-paramount/
TLDR: Due to the disappointing results of the Last Knight, Paramount has dropped all future Transformers films from their slate except for the upcoming Bumblebee spin-off which releases this December.
Bumblebee the Movie is a prequel taking place in the early 80s featuring Bumblebee as a VW beetle fighting on his own. Paramount will use the movie as a reboot for the entire franchise if it is successful.