The Flash Won"t Reboot The DC Movie Universe In The Way You Think

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The Flash will be the bridge between the DCEU and the new DC Universe, but James Gunn already revealed that it won't reset the franchise completely from scratch. The birth of a new DC Universe leaves behind the baggage that kept new DC projects from reaching their full potential. In order to ease the audience into it, The Flash will use the concept of the multiverse to rewrite reality and make it possible for a new set of characters to take over. However, this doesn't mean that The Flash will erase the entire DCEU from existence.
The slate for the first chapter of James Gunn and Peter Safran's DC Universe, "Gods and Monsters", includes the DC live-action series Waller, starring Viola Davis as the titular anti-hero Amanda Waller, who she played in the DCEU's Suicide Squad movies. This goes against the idea of a full reboot, as it seems that actors can still reprise their previous roles and possibly retain part of their original backstory. So, even if The Flash reboots the DCEU to give way to the new DC Universe, the return of certain established characters means that the DCEU lives on, only in a different form.
What James Gunn Has Said About The Flash Resetting The DC Universe

DC Studios CEO James Gunn officially announced the official slate for the DC Universe in January 2023. Before revealing the upcoming projects, Gunn expressed his thoughts on the four remaining DCEU movies, Shazam: Fury of the Gods, The Flash, Blue Beetle, and Aquaman and the Lost Kingdom. When talking about The Flash, Gunn said it "resets the entire DC Universe". However, when fans questioned Viola Davis' return as Amanda Waller, Gunn clarified, "The Flash resets many things, not all things. Some characters remain the same, some do not” (via CBR). So, while The Flash will help reboot the franchise, it won't rewrite every single detail from the old DCEU.
The Flash will reset most of the DC continuity and introduce new takes on most characters, but it's still possible for characters like John Cena's Peacemaker and Margot Robbie's Harley Quinn to return alongside Amanda Waller. They technically may not be the exact same versions that debuted in the DCEU, but they're still similar enough to come back in future DC projects without major continuity problems. Perhaps even Jason Momoa's Aquaman and Ezra Miller's Flash will be some of the DC characters who can survive the DCEU reboot with only a few tweaks to their backstory.
The Flash Movie Predates James Gunn's DC Universe Plan

The Flash's multiversal story may seem like a tool specifically designed to justify the change from the DCEU to the new DC Universe, but that was never the case. Development on a Flash movie dates back to the 1980s. By 2017, The Flash was already planned to adapt DC's Flashpoint storyline; and by 2020, the movie's multiversal plot was solidified regardless of the direction that the DCEU would take afterward. It was only after The Flash finished production that the DCEU officially came to an end and plans for the new DC Universe took shape, inspiring The Flash to help the transition between franchises.

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