First of all No; Rob Liefeld is not involved with the Transformers Franchise. This famous comic book creator who is involved with creations such as Deadpool and Youngblood, recently got a chance to experience what is like to make a movie for the Transformers Cinematic Universe.
Speaking to Cinemablend, Mr. Liefeld said
“So I kind of was thinking, ‘I’m going to go to this meeting and maybe I’ll get a good look at some Dark Tower stuff,’ and what ended up happening is he goes, ‘I want to hand you this giant black leather-bound equivalent of a phone book,’ and it said, “The Transformers Bible.” This thing is awesome and Akiva goes, ‘I just want you to know, there’s only eight of these in existence. Michael Bay has one, I have one, the head of Paramount has one, and the five other people involved have them.’ So I flipped through it, and it’s every treatment, outlines, screenplay, for the lineup of Transformer films that they have planned, that he was a showrunner for…
So he said to me, he said, ‘It’s pretty cool, right? I’m like, ‘Yeah!’ He’s like, ‘I ran this room; this is what we came up with. This is what I did on behalf of Paramount.’ He goes, ‘In a couple months, I’m going to go run the Hasbro room, and we’re going to do the same thing for ROM, Micronauts, G.I. Joe. We’re going to put together this Hasbro Cinematic Universe, and then he said, I would like to do yours next. And I said, ‘Uhhhhhh, Okay, WOW!'”
Regarding the Writers’ Room:
For those who are a bit fuzzy on the history here, in the summer of 2015 Paramount Pictures had Akiva Goldsman bring together a group of writers — including Robert Kirkman, Art Marcum, Matt Holloway, Zak Penn, Jeff Pinkner, and more — come together to research the history of the Transformers series and construct a plan for how the movies can branch out into a multi-tiered franchise with strict continuity and overlapping narratives. According to Rob Liefeld, this resulted in a massive tome of scripts and artwork — one that he considered sneaking out of the room and keeping for himself because of its majesty. This book was impressive enough to make him seriously consider such a future for the Extreme Universe he created for Image Comics.