Although this series would be live action and potentially even use the same visual style as 2019's Detective Pikachu movie, it seems unlikely that there'd be any direct connection between the two as there's no sign that the movie's studio, Legendary Pictures, are either involved or interested in continuing with the Pokémon license after Detective Pikachu's somewhat muted success.
It wouldn't be entirely surprising for Netflix to sign this project, however. The company recently announced a major push towards making and releasing its own games as part of the Netflix service and has quietly built up a strong array of exclusive gaming IP in its portfolio, including Resident Evil, Castlevania, Assassin's Creed and The Witcher. Netflix has also increasingly become the home of the Pokémon anime in the West, with the exclusive rights to the current Pokémon Journeys series in the US.
In 2015, Netflix was also heavily rumoured to be collaborating with Nintendo on an adaptation of The Legend of Zelda, and later revealed to also be working on a Claymation animated series based on Star Fox. However, Nintendo reportedly cancelled both series after word of the Zelda series leaked out.
There are some concerns that the same might happen again here, but fortunately in this case The Pokémon Company are the ones making those decisions and, I think we can say from some experience in the matter, they seem a bit more used to leaks by now...