This is a long time coming in two respects:
Tsuburaya has been wanting a big, splashy American Ultraman project since the '80s. Tons of false starts, and even the few things actually produced (like Powered) didn't amount to much. Then the Chaiyo situation developed and stymied further attempts.
Secondly, American animator Shannon Tindle has been trying to get a dream project off the ground for two decades: an animated kids film about a tokusatsu-inspired hero who ends up becoming the adoptive parent to the baby of an enemy monster. The movie almost gets made a few times, but the project keeps falling apart.
Flashforwad to a few years ago: Netflix likes Tindle's pitch, but tell him "why not just make it really Ultraman, because it's obviously based on Ultraman?" It just so happens Tsuburaya scored its final legal battle against Chaiyo so when Tindle/Netflix showed up at their door it was kismet.
The movie will be released worldwide on Netflix next month. The Japanese dub cast has a few familiar faces... uh, voices. It's a shame it's streaming only, 'cause it looks gorgeous and would probably play great on the bug screen!
https://youtu.be/TwXgOMDONK8?si=KXiJZux8KP5jX8Ll