Hi @mcarleton ,
Try the below flow.
1) Use a when a new email arrives trigger and initialize a boolean variable defaulted to @false

2) Use the List tasks action in Planner

3) Add a condition to match the Title to contain the subject of the email. You can modify this condition to suit your needs e.g. description contains subject etc.

4) If true, it means a task was found. Set the boolean to @true and use either the Update a task action or Update task details action depending what you want to update. Pass in the ID of the looped task.

5) Exit the loop and add a condition to check whether IsFound is false meaning no tasks were found. If so, use a Create a task action to create a planner task

** note - there is a chance you may end up updating multiple planner tasks if you don't set your conditions tight enough. For example, if two tasks contains the same keyword, it will update both of them so you will need a better identifier. E.g. Task Id below

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