“Lilo & Stitch” follows an orphaned Hawaiian girl, Lilo, as she discovers a genetically engineered alien, renames him Stitch, and “adopts” him as her dog.

Chris Sanders, the Wild Robot filmmaker who co-created, co-wrote and co-directed the 2002 animated Lilo & Stitch, is in final negotiations to return to the fold and pen the sequel to Disney’s live-act...