The Matrix Resurrections reunited many of the original trilogy's actors, but it was also meant to include Hugo Weaving in the ensemble.
The sequel's co-writers, David Mitchell and Aleksandar Hemon, spoke to Gizmodo about the long road to bringing the franchise back. The duo also mentioned that they had plans to reinstall the original's Agent Smith, as Weaving was planning to don the iconic suit and sunglasses once more.
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The Matrix Resurrections Was Supposed To Feature Hugo Weaving's Agent Smith
Hemon noted that the Lord of the Rings actor had "preliminary talks" to return. But, these discussions eventually fell apart:

Weaving previously spoke about how plans for his re-arrival were in motion. But the actor's commitment to the National Theatre in London conflicted with Resurrections' production dates, resulting in a stalemate (via ComingSoon).

Contracts and production dates are continuously clashing in Hollywood, so the reasoning is to be expected. And considering the direction this episode traverses in terms of its meta-commentary and how certain characters return, the actor's absence somewhat makes sense.
But, it would've been special seeing Keanu Reeves battle it out with Hugo Weaving, as they did 18 years ago.
Did you want to see Hugo Weaving back in The Matrix Resurrections? Let us know in the comments