As this is now on GamePass, I started playing it last night. Just killed the second boss this evening.
So far it's... pretty good, I guess. The umbral realm mechanic seems to be the only real factor that distinguishes it from the pack of Souls games and Souls-likes, but I haven't appreciated it much yet because I keep thinking the umbral realm is dangerous and I should only be in there when necessary. I think that might not be quite right.
Combat feels okay so far. Kind of slow, though nowhere near as slow as the 2014 LotF, and with quite generous dodge i-frames and fairly spacious parry windows. Though saying that, the second boss seemed to be crying out "parry me!" and I still got the timing wrong and just decided to dodge instead after getting clobbered a few times. Fortunately, that seemed to work perfetly okay anyway.
I wouldn't say I'm totally loving it so far, but it's piqued my interest enough to keep going with it. Playing as a preacher and upping radiance mostly so far. Hopefully that's a good tactic...