Since the third installation of "Sherlock Holmes" was confirmed in 2014, details about the project have been scarce.

"Sherlock Holmes" 1 and 2 both made it big in the box office, and fans are all hoping that the third installment is already on its way.

In 2015, film producer Lionel Wigram confirmed that the script for "Sherlock Holmes 3" was already in the works. Since then, fans have been wondering if the script is done by now and filming is already underway.

While the last concrete update about the film was in 2015, some cast members revealed recently that they are currently doing everything to make "Sherlock Holmes 3" the best film yet in the franchise.

Just recently, actor Robert Downey, Jr. himself seemed to have given a hint about the progress of the much anticipated film. On his Instagram account, he posted a photo of himself sporting a wig and holding a cane, and captioned it "Master of Disguise."

Before that photo was posted, Downey revealed in one of his interviews that he wanted to explore more of Perry Mason's character in "Sherlock Holmes 3."

According to writer Lionel Wilgram, the third installation will not be that easy to produce since they envision to make it the best of the three installations.

"I think we would all love to do one if we could come up with something that really was going to knock it out of the park and was going to be the best of the three. So we're working on that. It's quite hard to do," he said.

As for its plot, there are rumors that the third film may feature time travel, as hinted at by actor Jude Law.