Misleading headline. Project is currently being shopped around so this isn’t official whatsoever. Countless projects get shopped around to end up taking a few years to go into production or sit on a shelf.
Considering the people involved and a script by the duo behind THE DISASTER ARTIST, I wouldn't be shocked if this ends up at an indie label (Focus Features, A24, Neon, etc) –– not a big-budget studio film.
Paul Walter Hauser could be amazing in this. He was at one point rumored to be attached to the lead role in Tarantino's upcoming film, but he's since signed on to a number of upcoming projects, leading me to believe that he's not going to be in that one.