Adaptations of old stories will frequently move them closer to the production in time and/or space, even if the original is only a couple of decades old.
Distinct from Recycled IN SPACE in that the purpose is to make the story more familiar and accessible, whereas that trope is often based around transplanting a story into a less familiar setting. Also, by its nature, a Setting Update is typically made long after the original, whereas a Recycled Premise is usually a Me Too made to cash in on hot demand. Sometimes, especially with the more radical changes, it can be a genuinely clever analogy.
Well, I don’t want you to be scared, ever. And you don’t have to come back here. We’ll figure something out. No, I’m not afraid anymore. You’re not? I mean, out there is a horror show. But in here, I’ve never felt safer. And to feel this, I wanna come back. Again and again… Because I love you. Walt, I love you, too.