While I appreciate it being set in the original continuity, I kind of wish this wasn't a sequel as envisioned by that time period. The entire point was to glorify the police in the context of those movies; the third movie literally had the police side with the poor and go out against a corporation that wanted to gentrify the entire area into some kind of dystopian arcology.
This premise doesn't work anymore; we
know the police will do anything they can get away with to victimize poor and minority communities, often with military issue hardware and tactics. They do it every day! You can't make a walking tank a hero in this context, especially a white one. It's not the 80's anymore, that kind of excess is just kind of fucked up. The story needs to be made in a different lens.
You want a real, biting movie? Have the police re-activate the Robocop initiative in response to complaints against officers; Detroit's politicians figure that having a walking computer that makes decisions purely based on it's directives (free of racial bias and fear) will ensure that even the worst neighborhoods have law and order... and then the politics of actually getting that threaten to destroy the Detroit PD. Have Robocop come across a black teenager during a stand-off with the police and have him use his high tech scanners to identify the he's holding a sandwich and not a gun before a fellow officer guns the kid down. Have Robocop patrol the neighborhood, using personal information on everyone (taken from Facebook, Twitter, etc) and a database full of psychology knowledge to de-escalate conflicts so no one gets choke holded to death. Violent crime rates go way down because no one wants to be on the wrong end of a god damn cyborg. Basically show that there ARE better ways to do policing...
... and then make the actual villains the Detroit PD, as they turn on Robocop when he makes the racist and impulsive officers of the force look ridiculous with his clear rates. Suddenly the movie goes Serpico and Robocop suddenly doesn't have back-up when he needs it. Corrupt officers use gang connections to try and get rid of him, as he threatens to expose top members of the force for their crimes. Suddenly politicans are losing their support from the police union (or worse, maybe they are being blackmailed) and Robocop gets setup for a bad shooting; an excuse to shutdown the project and put an end to his crusade.
I could definitely see Neil Blomkamp doing this movie, ESPECIALLY after District 9.