Ive been sitting on this thought for a while now. If they made another live action move, id want it to be based on one of favourite 1980s episodes, Japanese headmaster episode 18 "the most important thing in the world." in the episode the humans play a key role in this episode as mediators for a peace summit between Autobots and Decepticons.
Of course the deceptions deceive everyone and hold the humans hostage as a way to leverage massive benefits for their side.
I thoughts this would be great as a live action movie because of the key roles humans play, although they'd need to be developed properly so you care about what happens to them. The deceptions would become more than dispensable special effects as their threat could have severe personal and intergalactic consequences. The best part would be that autobot alt modes would serve with strategic value (not just eye candy sports cars) as they'd need to stay off deception attacks, infiltrate the buildings, (headmasters anyone) and then get the humans to safety via helicopter, armoured troop carrier etc.