https://www.nintendolife.com/news/2019/12/feature_how_david_...
My pet conspiracy theory, of which there is sadly ample contrary evidence, is that the Zelda universe was supposed to be more like the Bond universe, where it just kind of reboots and picks and chooses its continuity rather than the convoluted branching of time, which I think doesn't add anything to it.
I also really enjoy how the last two games (Breath of the Wild and Tears of the Kingdom) have focused a lot on emotion and interpersonal relationships. The complexity of Zelda's arch in BotW was a real happy surprise.
She started off feeling like a failure for not being able to awaken her powers and resenting Link for how easily he seemed to wield his. Then she got to know Link and how his skill was from relentless training and his silence was from fear of not living up to people's expectations. In the end, Link is the one who falls, Zelda awakens her powers and keeps Ganon at bay. And the whole game itself is Link trying to save the world doomed by his previous failure. Huh, reminiscent of OoT... maybe that's the common bit to base the film around?
It is gloomy though, and maybe too gloomy for what Nintendo wants to go for. Not having Ganon is probably a deal breaker for them as well.
Majora's mask or twilight princess comes to mind (while not even having the latter in my favorite games list)