Kikar is reporting that Rav Chaim Kanievsky and Rav Gershon Edelstein have appointed some rabbonim to put together and publicize guidance for behavior on Simchas Torah. Rav Yitzchak Zilbershtein has added his name to the letter, so this has his approval as well.

They start off by encouraging people to daven in outdoor minyanim.

Regarding the dancing of Simchas Torah, people should be careful to dance together without holding hands. It is also possible that the people should not dance and only the person holding the  Torah should make the circuit around the bima. Hakafot should be minimized. People should keep their distance form one another as much as possible and not crowd together. Masks, on the mouth and nose, must be worn, even when dancing.

Anyone who gets a torah scroll to hold and dance with, should disinfect his hands after handing it off to the next person. People should not kiss the Torah with their mouths, but only via a tallis.

People should not sit together and have kiddush together in shul. 

Torah reading should be minimized, without giving aliyos to everyone. Only the 7 aliyos should be given out along with the chosson torah and chosson breishis aliyot. Only older people should be given the aliyos 

(note: I dont know why only older people, and what age is considered older. Maybe out of respect to them, rather than giving the few available aliyos to teenagers and young men)