Thought about this a lot, this would be my ultimate adaptation to write. I'd do a tetralogy. The first film would be based on the original game - Link is an unlikely hero, Zelda needs help (but I'd avoid the damsel in distress tripe, she would be a badass). Ganon would lose but a magical accident would trap him and put them in a rebirth loop.

Second film would be Wind Waker, set hundreds of years in the future after Hyrule drowned. Link and Zelda would be the same actors, but new characters, unaware they were reborn to fight Ganon again (he remembers everything but is partially trapped and works through proxies).

The third film would be very loosely based on Skyward Sword (just the setting). Link and Zelda would be reborn again, meet again, and connect again to stop Ganon, but this time they alter the magic, giving Ganon a way to eventually escape.

The fourth and final film would be loosely based on Ocarina of time. To finally stop Ganon, Like and Zelda travel through time and meet other versions of themselves - the characters from the previous movies and others. They would unlock all their past lives, remember everything, and become their ultimate selves to fight a fully powered Ganon.

I have a million more details in mind, but basically all four would be action adventure films. Fun and semi-grounded, but not gritty. @Nintendo, call me, let's chat.