"Where is Spider-Man?" is teased on a film set in downtown Los Angeles as it appears as if Sony is possibly filming Morbius or Venom 2 reshoots.
A Redditor spotted a movie being filmed where the set was made up to look like New York City as a bus can be seen with an advertisement questioning: "Where is Spider-Man?"
Worth a mention is that the sign also says "Find out only on the Daily Bugle," with the "Daily Bugle" being a Sony Pictures run blog at DailyBugle.net, so it's probably safe to assume whatever this scene is for, it's for a Sony movie, either Morbius, which has already teased Spider-Man, or Venom 2.
Update: It's confirmed for Morbius as Jared Leto was spotted with Matt Smith filming the scene.
Morbius teasing Spider-Man
The recent Morbius trailer featured that Spider-Man PS4 graffiti art when Jared Leto's Morbius was walking through the alley, so if I had to guess, I would guess this scene is for Morbius. In addition, we already know that Morbius in part takes place in New York City, while Venom took place in San Francisco, but of course Venom 2 could always take place in part in NYC as well.
Morbius also seemingly teased MCU connections and the Sinister Six.
Regarding what is going on with Spider-Man, the end of Far From Home saw Spidey set up to be the murderer of Mysterio with Spidey's true identity also revealed to the public, so Spider-Man is a wanted criminal. The mid-credit scene also featured the return of J.K. Simmons as J. Jonah Jameson promoting the capture of the Wall Crawler.
The "Where is Spider-Man?" advertisement also suggests that Spidey has either gone on the run, that Peter has stopped being Spider-Man, disappeared, or all of the above.
Sony Spider-Verse connecting to MCU
It is unknown how far the Sony Spider-Verse spinoff films will deal with Spider-Man being a wanted criminal, but Tom Holland has been rumored to be appearing in both Morbius and Venom, so a more direct connection between Sony and the MCU looks to be happening.
It has also been theorized that the Sony movies may not directly reference the MCU, only the Sony Marvel characters they own the film rights to, so big events such as what happened in Infinity War and Endgame might not be referenced, but again, characters such as Spider-Man and Vulture are being used in their movies.
It's guessed what happens with Spider-Man will be answered in the MCU's currently untitled Spider-Man 3 movie which gets released July 16, 2021.
Morbius gets released July 30, 2020; Venom 2 gets released on October 2, 2020.