Netflix keeps dipping into video games in order to get the inspiration for future shows. Considering the success of the Witcher, this kind of move is not unexpected. Jumping into Resident Evil mythos will provide the streaming service with a wealth of exploitable lore.
Resident Evil will debut in TV series format on Netflix at some point but it's still far away in the future. Neither Capcom nor Netflix even announced the show yet and it seems like they were just preparing to do so as the leak comes from scooping info from the streaming service directly.
Anyway, the Resident Evil show will not be connected to Raccoon City explicitly since the story will unfold in Clearfield, Maryland. The synopsis states that the town "has long stood in the shadow of three seemingly unrelated behemoths", referring to Umbrella Corporation, Greenwood Asylum and Washington D.C.
The setting will also be more contemporary or slightly futuristic as it will not be based on the late '90s with the story picking up twenty-six years after T-Virus has been discovered. In other words, the year in which Resident Evil Netflix show takes place is 2024, if we assume the Mansion Incident is the "discovery" of T-Virus.
Technically, Umbrella had it way before but the wider public was not aware of the virus until S.T.A.R.S. traipsed into Spencer Mansion. Another outbreak will happen and secrets of the three aforementioned giants will start pouring out.
From the synopsis, it sounds a lot like the lab underneath the mansion was not the only place where experiments took place and the world is about to find it out the hard way.