http://www.looper.com/117331/dc-wont-give-green-arrow-movie/

The character is so ingrained with the CW's 'Arrowverse'

One of the biggest potential reasons Warner Bros. might be hesitant to create a big-screen version of the Green Arrow: The studio gave the all-clear for The CW to use the character on the television series Arrow more than six years ago, and that version of Oliver Queen has evolved into the centerpiece of the network's superhero universe, which has grown to include Flash, Legends of Tomorrow, and (in less connected ways) Black Lightning and Supergirl. The creative team took a Batman Begins-style approach to launching the character, and the TV version of Oliver Queen has borrowed quite a bit from the Batman mythos. The small-scale aesthetic of the character clearly lent itself to a television series, and at this point, he's most associated with TV for most fans or would-be fans. Warner Bros. opted to have both big and small screen versions of the Flash, with Grant Gustin anchoring a TV series while Ezra Miller plays Barry Allen in the DCEU, but that character's history and abilities are arguably a better fit for film anyway.

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Yes, agreed. Rather than Green Arrow, The Flash is much better suited for theatrical film because of the Flash's spectacular-type superpower.
Let me also add that the Elongated Man with his bizarre superpower of Elasticity would be better suited for theatrical film too. My regret is that the Elongated Man is wasted by being on a TV series. He would be much better suited for a theatrical appearance instead.