The sci-fi project, from Cougar Town scribe Michael McDonald, is set in a future world in which humans co-exist with life-like androids.
Conroy will play Lydia, a wealthy socialite whose late husband founded the firm that created the 'Mechanicals', according to Deadline.
The actress recently played Moira O'Hara in the first season of FX hit American Horror Story and also starred in HBO's Six Feet Under from 2001 to 2005.
Her film credits include 1992's Scent of a Woman, 2004's The Aviator and 2009's Stay Cool.
Primeval star James Murray and Royal Pains actor Patrick Heusinger have also signed up for roles in Beautiful People.
House of Lies director Stephen Hopkins will helm the pilot, which will be co-produced by ABC Studios and Universal TV.
Other drama projects currently in development at NBC include a remake of Danish drama Borgen, a modern-day update of Frankenstein and an adaptation of 1984 movie Romancing The Stone.