If I could give half-star ratings here I'd give it a 3.5, so take my 4 as that.
Really wonderful character-driven companion piece to Chapter One, and that's really why I enjoyed it almost as much, because you really grow to these people (and what a wonderful cast, you really believe the adults are the same people as the kids from Chapter one) though as a movie, specially as a horror movie it's a lot weaker.
The runtime of almost three hours is felt, specially the second act can be a bit of a drag.
Still very much worth watching.