Davis was the music executive who discovered Whitney and mentored her towards superstardom.
The film is being produced by Davis and Houston's sister-in-law and former manager, Pat Houston, on behalf of the Houston Estate.
"I Wanna Dance With Somebody" will hit theatres in December 2022.
Meanwhile, Tucci recently revealed he battled cancer three years ago and was so sick he required a feeding tube for six months.
The actor was diagnosed with cancer in 2018 after doctors discovered a tumour at the base of his tongue.
"It was too big to operate, so they had to do high-dose radiation and chemo," he told Virgin Atlantic's inflight magazine Vera.
Tucci didn't want to endure the intense treatments at first after seeing how "horrible" they were for his first wife, Kate Tucci, who died following a breast cancer battle in 2009.
"I'd vowed I'd never do anything like that, because my first wife died of cancer, and to watch her go through those treatments for years was horrible," he added.
But Stanley eventually agreed to let doctors treat him.
"I had a feeding tube for six months," he explained.
He is now in remission but feels "much older" following the health battle.
"(Cancer) makes you more afraid and less afraid at the same time," he added. "I feel much older than I did before I was sick. But you still want to get ahead and get things done."