Over the summer, MCU Cosmic reported that the long-rumored Power Pack project at Marvel Studios had finally entered a form of active development. In 2018, Feige said during the Infinity War press junket that they wanted to do Power Pack for a long time to have something aimed at families.
While there are people thinking that the show will be live action, especially since the Power Pack kids have history with the Fantastic Four, that doesn’t seem to the the case. There are some signs pointing to Power Pack being an animated series. I don’t know if they’ve found someone to be in charge of the show or write it, but it’s been brought up to people who have backgrounds in animated series aimed at a younger audience.
Jut because it could be animated, it doesn’t mean that it wouldn’t be part of the MCU. This would be a Marvel Studios show, and Lucasfilm has done animated shows that are part of the canon for over a decade now. In Star Wars they have The Clone Wars, Rebels, and now Resistance and all of those shows exist in the same canon universe as the movies.
Power Pack would be the first of that type of show for the MCU (What If…? is animated, and uses MCU canon, but it’s telling alternate versions of the movie stories). And just because a canon show is animated, that doesn’t mean there can’t be references to the characters and events in the movies.
For example, Star Wars: Rebels introduced a the Hammerhead Corvette to the Star Wars canon, and those ships played a major role in Rogue One: A Star Wars Story. At the time, people complained about the Rebels episode being “filler” when it was really establishing a major thing for the future. And even characters created animation can move to the movies, as Saw Gerrera was created and introduced in The Clone Wars before appearing in Rogue One.
So if Power Pack ends up being an animated series shouldn’t worry MCU fans, but at the same time you need to look at what Feige said about Power Pack last year. This will be aimed at families meaning there probably won’t be heavy stuff like half the universe being dusted in it. It’s four kids with super powers, and honestly that comic is probably better suited for an animated series than live action.