I don't see why they have to cancel EMH if they want something closer to the movie.
I read a quote yesterday suggesting that the new show might actually be in
the Marvel Cinematic Universe continuity, rather than simply evoking its feel. It was ambiguous, but if that is what the speaker meant, then it would have to be a distinct show.
(Although I'd expect it to be more the kind of thing that purports to be in the movie's continuity but that the sequels don't really bother to stay consistent with, like MTV's CGI Spider-Man
series or the DC Star Trek
comics that came out between the '80s movies.)