The video depicts Styles in red and a female character in blue, possibly referencing a central metaphor in “The Matrix.”
In “The Matrix”, the hero Neo is given a choice between a blue pill and a red pill. The former represents blissful ignorance, while the latter represents painful truth.
“You take the blue pill, the story ends; you wake up in your bed and believe whatever you want to believe,” Morpheus told Neo. “You take the red pill, you stay in wonderland and I’ll show you how far the rabbit hole goes.”
Styles wears red exclusively throughout the clip, even down to her fingernails, while the woman dressed in blue appears to represent her estranged lover.
In this context, we can assume that Styles wants to “take the blue pill”. He continues to yearn for his lover, choosing to ignore the way they grew apart (“Seems like you can’t be replaced / And I’m the one that’s left / In this world, it’s just us / You know it’s not the same as it was”).
However, Styles himself is dressed in red, which could indicate that he will eventually be forced to “take the red pill”, face reality and move on.
This theory is underscored by a set of lyrics in the second verse: “Why are you sitting on the floor at home? / What kind of pills are you taking?”