Technically, yes.
But disney ahead of time put a clip of that version of Mickey at the start of every Disney film in the last 5 years, because if they can’t sue for copyright , they will sue for trademark.This is specifically addressed in the linked article. In short, in the US (where this is relevant) trademarks cannot be used to extend copyright-like protections.
As long as you are clear that your derivative work is not affiliated with Disney they cannot legally prevent you from making a Micky Mouse (or Minnie, or Pete) slasher film, porn movie, racist propaganda book, or anything else you want to make with it. You can’t use it as a logo for your media company (or theme park, merchandise company, or any other vertical that Disney operates in with the trademark).
racist propaganda book
That might actually cause confusion on whether it’s associated with Disney.
Oh boy… the shit is gonna hit the fan when song of the south gets released to the public.
Let’s see if the mouse’s lawyers will actually litigate or try to distance themselves from that shit show.
But don’t you think that Disney can afford to “forget” about it, and litigate untill the other side is broke af?