The Wolf Among Us 2 story will "stand on its own" for those who never played the original.
Speaking to Edge magazine, Jamie Ottilie, CEO of developer LCG Entertainment - which took over after the closure of Telltale Games in 2018 - said that "we strive to design our narratives so they can stand on their own. We think the opening of the first episode sets things up in such a way that the player understands how the characters got where they are now." So while it's not essential to have played the first game, it'll still give you a slightly better understanding of the characters.
In the sequel, Snow White is now Deputy Mayor of Fabletown, while sheriff Bigby Wolf is being forced into anger management classes. This time around, Bigby will face something of an existential crisis as he questions his place in the world, shaped by the importance of the game's New York City setting.
Speaking of the game's art style, Ottilie says that "continuity was a priority from the start." That visual continuity, however, will exist in other aspects of the game, as the CEO explains that several former senior Telltale staff are working on the game. They include writer Pierre Shorrette and co-directors Dennis Lenart and Nick Herman.
The Wolf Among Us 2 was announced at The Game Awards 2019, but it's still not set to release until next year. Until then, Ottilie says his team is trying to be "as transparent as possible," so it's likely we'll see a bit more of the game in the run-up to its release.
The Wolf Among Us 2 relives the magic of Fabletown in its main character.