Assuming that’s accurate, it doesn’t mean that he’s not playing the Max Dillon that audiences met in Marc Webb’s sequel.
In fact, I don’t think that Sony and Marvel would hire Foxx for the untitled MCU Spider-Man 3 if it wasn’t to have him play the same character.
And asking Foxx to play Electro, but making it a DIFFERENT Electro, only sets up audience confusion, and that makes no sense from Marvel and Sony’s point of view.
Foxx’s version of Electro wasn’t SO iconic that you can’t imagine any other actor potentially playing the villain on screen (as was the case with JK Simmons, who basically had to come back as J. Jonah Jameson in Spider-Man: Far From Home, because duh).