If the Tower returns to California, or if there is a new Tower in general, it will not be related to The Twilight Zone (1959) anymore.
They may use the same plot as the Japanese one, since Disney actually owns Harrison Hightower and Shiriki Utundu. Or they may use the same plot, just without the Twilight Zone theme, similar to the TV movie. Alternatively, a new Tower may be based on The Twilight Zone (2019).
If they successfully manage a deal with CBS.