Agreed, thank you for weighing in as well.
I would also note that Flanagan likes to reuse actors. So the actor (Victoria Pedretti) who plays Nell in HH also plays the primary character in Bly, named Dani. Depending on how HH scares you and whether you would have associations to the actor and not just the character, I could see that amping up the emotions of Bly versus someone watching it who had not seen HH first.
Pedretti is a top notch scream queen and I will probably always sees a bit of HH Nell in her in any roles she plays. I do rewatch both on occasion and like to hold several months in between them so I can try to clear my mind of associations to the repeat actors.