If we absolutely MUST respond to rating inflation by making it harder to become a GM, the simplest solution is probably the best: Raise FIDE rating requirements by 100 points across the board at the beginning of 2020. If you're a titled player now, you keep your current title, no questions asked.
Simple
In recent years there have been a number of complaints that there are just too many GMs these days and the title has therefore declined somewhat in prestige. We could adopt a system similar to the Army regarding their Generals. That is to say you start off as a 1 Star General and try to work your way up to the 5 Star level. So we could have a RGM level ( Regular GM ), then next a SGM ( Super GM ), also a FWC ( Former World Champion ) and of course also CWC ( Current World Champion ). Note to the FIDE: I expect a finder's fee for this terrific idea lol.