It's going to fail. The Matrix capitalized on the infancy of the internet (1999 and all) and played into a those simulation conspiracy theories that have been around for ages. Mix in Woo-Ping stunt coordination and ground breaking camera work (that became so overused since that it's virtually cheesy now) and what do they have left to try?
It's been too long, things have changed too much. Dressing like The Matrix is lame now. The music in The Matrix isn't exactly popular anymore. They are going to have to change everything about it of they want it to feel modern enough to not be a Dad dressed in a KoRn T-Shirt with a chain wallet and spiky hair.
IF I WAS THEM...
I would make this movie extremely meta based. I would have the movie star Keanu as Keanu and Carrie as Carrie. They play themselves in The Matrix. Something happened and they were re-inserted with new lives. Their lives are what they are in real life right now. Pretty much exactly what Cipher wanted in the first movie. It turns out Keanu is really Neo and Carrie is really Trinity but they forgot, except for when they keep experiencing Deja Vu.
The Matrix is a real movie in this movie and it was used by the machines to help dispel any reasons they might have lingering memories, it's just memories of making a movie and not a real life.
Of course, Keanu and Carrie start to wake up again and see the world for what it really is - a crazy ass simulation. It plays into the world today with how insane everything is that it has to be made up by machines. It plays into ideas introduced in the first Matrix movie and it washes away being forced to recapture how the first three movies felt with a legit reason do they don't have to do lame shiny leather outfits again.
It would be someone to play a role of a conspiracy nut that stalks Keanu and tells him that he believes he really is Neo and the movies aren't just make believe. He's really Mr.Anderson and everything in the movies actually happened. Keanu ignores him, of course, but it creates a mental crack in the machines false world for him that unravels through the movie.