For the uninitiated, Arquette was actually WCW's World Heavyweight Champ in 2000 after being brought into that promotion's storylines because he did a wrestling movie called Ready to Rumble. The 12 days he held that belt don't appear to evoke fondness from wrestling fans, as you can see in the trailer, and they also don't appear to have done much for Arquette's career, which you can also see in the trailer.
According to the synopsis from the film's YouTube page, Arquette's return is about regaining his self-respect and re-establishing the narrative of his career. As that synopsis says in full:
Branded as the most hated man in wrestling after winning a highly controversial WCW World Heavyweight Championship in 2000, actor David Arquette attempts a rocky return to the sport that stalled his promising Hollywood career. Dangerously determined to redeem his reputation and reclaim his self-respect, Arquette will stop at nothing to earn his place in professional wrestling.
Arquette had announced in 2018, while on The Wendy Williams Show, that he would be returning to wrestling after putting up with trolling on that subject for 18 years. Thus began his journey on the independent circuit, which has occassionally made sometimes scary headlines on this here website.
As for You Cannot Kill David Arquette, it's reportedly been well-received at festivals. Since normal movie theaters have been closed down for pandemic-related reasons, the doc will premiere at drive-ins on August 21. A week later (August 28) it'll be released via digital and on-demand.