So, a kids film? I dunno, I would think Zelda works better as PG 13 live action.
Since it lacks a unified, signature style like Mario you can't just get by on having "Hyrule" and thats enough.
Let’s say you broke Ocarina into separate films…
Early ones would be kids films with kid link and aging along with the audience. They can pull some stuff that could work with sequels.
Even animated it can work.