We've got some brand new info on the live-action revival of the series, according to this Hollywood Reporter article.
"The Fairly OddParents is based on the Emmy-winning animated series and will combine live-action and animation. The 13-episode first season will pick up years after the original series ended and follow Timmy Turner’s cousin, Vivian “Viv” Turner (Audrey Grace Marshall, The Flight Attendant), and her new stepbrother, Roy Ragland (Tyler Wladis, Single Parents), as they navigate life in Dimmsdale with the help of their fairy godparents, Wanda and Cosmo. Susanne Blakeslee and Daran Norris return to the franchise to voice the iconic Wanda and Cosmo. Laura Bell Bundy (Perfect Harmony) plays Roy’s mom, Rachel; Ryan-James Hatanaka (Nancy Drew) is Viv’s dad, Ty; and Imogen Cohen plays their friend, Zina Zacarias. Production on the series is under way in Los Angeles with a debut slated for later this year on Paramount+."
I was personally expecting a complete reboot of the series, rather than a straight-up continuation. I wonder if other characters from the original series will show up here, aside from Cosmo and Wanda? All I can hope is that Butch Hartman and the new writers don't screw it up.