HBO is addressing a report that claimed Season 3 of the series had been scrapped entirely, telling TMZ ... "HBO and Sam Levinson remain committed to making an exceptional third season. In the interim, we are allowing our in-demand cast to pursue other opportunities."

While the network says they plan to get back to "Euphoria" at some point, Deadline reports there's no firm production start date -- even though filming was supposed to start soon.

The strange thing ... Deadline says HBO is still committed to a 2025 release for Season 3.

Some stars from the show -- like Sydney Sweeney, for example -- have suggested they were ready to go into production for "Euphoria" ... but now, it sounds like that plan is on hold ... and she and other costars can chase other gigs, including higher-paying movie roles.

Fact is, much of the "Euphoria" cast has moved on to bigger and better things -- and the core group of them are movie stars now ... so if HBO couldn't wrangle them in right now to shoot a new season, it stands to reason it will only get more difficult as time goes on.

As you know, Zendaya is in 'Dune 2,' Jacob Elordi was in 'Saltburn' and 'Priscilla,' and Sydney's probably one of the hottest commodities in showbiz. All three of them are very in demand right now -- so HBO isn't wrong in pointing out that they might wanna chase other stuff.

We suppose we'll see if the actors care about doing a third season by the time HBO decides it's time to get the cameras rolling. You can argue their stars will only be brighter by then.