I’d rank the Shrek/Puss in Boots movies as follows: Shrek 2, Shrek 1, Puss in Boots: The Last Wish, Puss in Boots 1, Shrek 4 (Forever After), Shrek 3.

I felt The Last Wish had more fairytale references than Puss in Boots 1 which made it feel more like it was in the world of Shrek. The new animation style is the biggest change and it’s going to be up to your personal taste. I really liked the new animation which looked like a combination of 3D and 2D (akin to Into the Spider-Verse) but it probably won’t be everyone’s cup of tea.

The story was very solid and even quite mature at times with Puss having to face his mortality. The one aspect of the film I didn’t love was the little dog who was clearly put there to sell plush toys to children, but even he served a purpose in the overall plot. I took my nieces who also enjoyed it. In terms of animated movies, I liked it enough to give it a 7.5/10 and I’d rate Shrek 1 8/10 and Shrek 2 9/10.

Hopefully that gives you some insight.