Hollywood didn't necessarily do anything wrong. To renew the licensing for the 2021 season, the house needed to be open for the 2020 season. Which is why it was open for a couple of days in Orlando.
The park didn't even reopen until April 2021 due to the pandemic. USH couldn't have done anything to keep the licensing, especially with Orlando conforming to Warner Bros' wishes. To put it simply, USH was a victim of circumstance.
With that, Beetlejuice is very much in play. The new film has made almost $500 million, so I'm sure both parties would be interested in a Beetlejuice haunted house.
That's probably for the best tbh. A third year in a row of a very similar concept/premise sounds lame. Retire it for a while and bring it back as a final "hurrah" to the Latin American houses in Parisian.