Difference of opinion. In my view it's a classic. I have it on VHS, DVD, and own it on Amazon Prime.
Some scholars dislike portraying any companions radiAllahu anhum whatsoever. Others say it's ok as long as there is no depiction of Muhammad sallahu alayhi wa salam.
It's not something to be taken lightly… to show companions. But this film is an indisputable classic that I think most Muslims have seen. Same with "Lion of the Desert." And the Omar series that came out 5 years ago is also an indisputable classic.
We have had reenactments of our historic battles for a long time in Islam. And one of the top scholars of fifty years ago, Abdur Rahman as Sadi would attend them.
https://www.alarabiya.net/articles/2012/07/22/227742.html
Personally as long as there is religious oversight and the intentions are good and the final product is good then I don't see a problem. Most muslim countries celebrate the movies I mention but they banned this new "Noah" because it just made stuff up.
Allah knows best.