Picasso didn't have evolution so much as total overhauls at several points. It seems much harder to do this kind of evolution/revolution in film simply because of the money involved.
As a film director with such a distinct style, which makes money, it would be pretty hard to go to your investors and say 'I want to do something totally different.' and secure enough money to make a film in the modern era. There are some directors who can self fund due to windfalls in the past. I mean thinking back on noted auteurs I can only think of a film or two that are outside of their style and most are either very early in their career when maybe they were doing a work for hire or very late in their career where they had enough gravitas to get the money to try something different that they had been sitting on for many years (David Lynch's Straight Story is a bit of an odd man out though, I'm not sure of the history of that particular film)
But for someone like picasso, he can just decide on even a whim to attempt to refine or invent another style, the market probably has some kind of pull but it seems like, to me, several orders of magnitude lower stakes.
It would be interesting to find out after some film auteurs' death that they actually had done several other films in a wildly different style under whatever the director's equivalent of a pen name is. Though keeping such a thing secret would be highly improbable (too many people involved in a modern film production).