Pegg, who portrays Montgomery "Scotty" Scott, was given a detailed description of the R-rated script by JJ Abrams and producer Lindsey Weber, though he never read it.
Tarantino successfully pitched the film in 2017 but later distanced himself from the project, which was never officially greenlit.
Pegg previously indicated that the Star Trek film franchise might be over due to high production costs and lower box office returns compared to other major franchises.
However, Pegg now expresses hope for another film following the merger between Paramount and Skydance, as Skydance founder David Ellison supports the Kelvin timeline.