What does more accessible to newer fans look like for you guys?
Hm...
There are many inherent difficulties of making a direct sequel/fourth instalment to a niche series that began in 1999, in a way that is friendly to new users.
In terms of narrative; re-establish the characters, their motivations, and their place in the overall plot. Easier said than done when also not wanting to do retcons or beat older fans over the head with information they already know. Luckily Shenmue III's ending is a perfect jumping off point to do this, as the series status quo has shifted significantly. You can ease new players in while also prepping old fans for the developments to come.
Example: Ryo's father was murdered by Lan Di to take possession of the mirrors, Ryo travelled to China to confront Lan Di, but having failed to beat him and barely escaping with his life (old information for some), Ryo is having doubts about his ability and his quest for revenge (new information for all).
In terms of gameplay; I'm not a believer in the idea that making things hand-holdy will make the game more accessible for new players, and in fact it's more likely to turn older players off. There's being *user friendly*, and there's being braindead. Ultimately I think Shenmue's gameplay needs to be refounded in its core concepts of action, world, and story. The rigid progression of A to B needs to be done away with for something that lives up to the F.R.E.E moniker, that puts emphasis on Shenmue's best and most addictive parts. Players today want more freedom, not less.
Action: Combat that looks and feels good, well choreographed QTE fights and chase sequences in simple and complex forms*, RPG mechanics and training mini-games.
World: Picturesque landscapes, detailed environments with elements of verticality (vantage points, rooftops, stairs, terraced rice paddies), lively and populated streets filled with shops, amusements and mini-games, attention to detail and a real lived-in feel.
Story: Simple plot but complex characters with real development from start to finish, interesting and unique NPCs, upgraded and better integrated affinity system, good voice acting and localisation, exciting and dynamic cutscenes, and a self-contained story that feeds into the wider whole of the Shenmue saga.
All easier said than done, but I don't think anything could bring in new players more than refocussing and refounding the core concepts, and making an extremely well realised and polished version of the highlights of the Shenmue experience.