One of the strongest aspects of the first movie was the kind of class, race and real estate version of body-horror - the buildings, the neighborhoods, the decay and the ever present danger of violence - you saw the contrast with the deluxe condo VS the project - identical architecture but a gulf of wealth and inequality with Virginia Madsen being placed as contrast in both places. She also ties the racial disparity by being this perfect, blond, waspy figure. She's sympathetic as a character and to the plight of the people in Cabrini Green, but she's completely out of her depth.
Her resurrection subplot also shows the cycle of violence and the utter lack of change. The slaves are still in the same place in the future, and the legal status has changed, but the decay and violence and societal ceilings are intact.
So you have the terror of the supernatural, the sort of societal fear of the other, and the fear of violence and crime - Madsen being shocked by it and the locals being ground down and corroded by it - and becoming it - so there's this permanent all encompassing Matryoshka doll of different layers of fear and dread.
That's actually one of the things I loved about Get Out - which was that it recaptured elements of Candyman - especially for white people - the dread and discomfort came from knowing that the underlying facts are true and that people - who should be your equals and peers and safe in the nice condo - are living in a nightmare that you only have to visit - either as a theater goer or through the eyes of Madsen's character. All of that discomfits and undermines the foundational sense viewers have of the film - so that when th traditional horror happens, you're already in a very bad place and a place that isn't fantasy - it's recognition of something totally real.
Imagine watching the Exorcist but in a world where demonic possession is actually real. That's a bad place and it amplifies the scraes and the substance.
Candyman is such an amazing film - the score, the subject, the power it all has - for what should have been just another schlocky horror film, but it's deliberately and artfully subversive. Glad Peele is involved because he's the spiritual successor to the original. Wish he was directing tho.
I hope they lean into those aspects hard.