Lilly Wachowski has ruled out returning to direct a fifth Matrix film, saying she is "kinda done" with the franchise she and sister Lana created, even as Warner Bros. develops a new instalment with writer-director Drew Goddard. Speaking on KCRW's The Business, she said Warner Bros. will "always gonna wanna make another thing," but that she personally no longer wants to "play in that sandbox." The comments mark the clearest signal yet that the Wachowskis are stepping back creatively, even as their blessing remains part of the project's path forward.

Lilly and Lana co-wrote and co-directed the original trilogy, The Matrix (1999), The Matrix Reloaded and The Matrix Revolutions (both 2003), before Lana directed 2021's The Matrix Resurrections alone. Goddard was reported in 2024 to be writing and directing the next film, with Lana returning as executive producer, and Lilly noted Goddard doesn't want to proceed without their approval, meaning the sisters may "stick our noses in a tiny bit" before deciding whether to sign off. Separately, Lilly is currently seeking financing for her own dystopian political thriller, The Hunted, which will feature an all-trans cast.