The Arrowverse began with the debut of Arrow in 2012. In the following decade, the franchise aired seven shows (including Arrow) and held several crossover events, most notably Crisis on Infinite Earths.
The 2023 series finale of The Flash marked the end of stories within the main Arrowverse continuity. But, Superman & Lois still remained within its larger multiverse, making it still technically the Arrowverse's last installment.
The Official End of the Arrowverse
The CW confirmed via a recent press release that Superman & Lois — not technically part of the Arrowverse canon, but part of the franchise's multiverse — will end in 2024 after its fourth, and now final, 10-episode season.
The spin-off's cancellation is the final nail in the coffin for the Arrowverse franchise, marking the end of an era of DC television.
The Future of DC TV after the Arrowverse
For the last decade, the Arrowverse has arguably been the face of live-action DC TV. Following its official end, something new is going to need to take up that role.
More than likely, James Gunn and Peter Safran's upcoming DC film and television reboot will help fill that gap. The new slate of DC projects will include live-action shows with characters not from the Arrowverse such as Waller, Lanterns and Paradise Lost.
Interestingly, only Superman: Legacy and Supergirl: Woman of Tomorrow are currently confirmed to feature characters who did appear in the Arrowverse — the two titular characters, along with Lois Lane. Of course, characters like Green Arrow and the Flash will surely appear in the new universe too, though that is not yet confirmed officially.
The final season of Superman & Lois will air on The CW in 2024.