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According to one Sony source, the deal with Disney never precluded Sony from using Spider-Man in its movies that didn’t bear his name;
But “Venom” — built around a widely popular character with its own distinct imprint on the culture — also presented Sony with the false impression that audiences would flock to see a movie about any Spider-Man character without Spider-Man in the film.
Even After ‘Kraven the Hunter’ and ‘Madame Web,’ Sony’s Marvel Movies Aren’t Dead (EXCLUSIVE)
"Kraven the Hunter" signifies an end to Sony's spin-off movies of secondary Spider-Man characters. But it is not the end of Sony's Marvel films.
variety.com