Yes Secret Hideout has full creative control of the franchise, but they don't have financial control of the franchise. Paramount has the money and is the rights holder, they can say what goes ahead or doesn't because they're the ones paying Secret Hideout to do something.
Matalas series might have been considered, but Paramount could have been "it's either that series or Strange New Worlds that goes". Things not happening are completely up to Paramount a large company that was losing billions of dollars, and not a production company with a much smaller budget.