Pyright is an alternative Python static type checker from Microsoft, written on TypeScript. The main difference from MyPy is “watch mode” that runs type checks only for the changed parts of the code. That means, faster for local development and better for IDEs.
Pylance is a new VS Code extension and language server for Python from Microsoft, empowering the main Python extension. It’s built on top of pyright. Features: fast, knows a lot about types (hence better code discovery, go to definition, documentation pop-ups), semantic syntax highlighting, auto-import, running type checks as-you-type (VS Code can’t run Flake8 without saving file yet, AFAIK). See announce and changelog for more features. Or just give it a try.