The problem is that Ancelotti is not a coach who likes to apply a lot of strategies, he seems more interested in a colossal strategy system so there is not much he can do. Meanwhile Pep Guardiola is a modern coach with a variety of the latest tactics and is supported by stable playing abilities. Therefore I think Ancelotti will still have difficulty facing Man City, both last season and now the results will not be much different because statistically the composition of Madrid players has not changed much apart from the addition of Bellingham, while the rest is still the same as last season.
Everyone already knows that Madrid current condition, in La Liga they won't experience many problems, but in the UCL against Man City it will definitely make Ancelotti a little traumatized.
And the Manchester City squad has not changed much compared to last season and their performance is also no better than last season, especially now that several of Manchester City's main players are suffering from injuries, of course this will make the team's performance decline further.
And strategically, Ancelotti and Pep do have significant differences, but these two coaches are the best with their own coaching styles, so Real Madrid's defeat last season cannot be used as a reference for this to happen again this season.
Ancelotti is a very experienced coach, and he is used to dealing with situations like this, in fact I don't think that Ancelotti was traumatized by last season's defeat to Manchester City, on the contrary.