Fascinatingly, Emily in Paris was initially supposed to be Paramount Network original, like Yellowstone, but that network recently shifted strategies around original fare and will be honing in more on movies than TV programs moving forward.
Netflix can be a fickle company by nature and has more recently cancelled some shows that have seemingly had avid fanbases.
(Not to mention the show the streamer cancelled that had already been picked up for another season, complicating matters further.)