Only show posts with a specific term of an associated taxonomy in a custom post type archive

Try adding to functions.php

function filter_movies( $query ) {

  if( !is_admin() && $query->is_main_query() && $query->get('post_type') == 'movie') {
    
    $tax_query = array(
        array(
            'taxonomy' => 'period',
            'field'    => 'slug',
            'terms'    => 'current',
        ),
    );
    $query->set( 'tax_query', $tax_query );
  }
  
}
add_action('pre_get_posts', 'filter_movies', 9999);