I did an Apple TV software update via iTunes on my PC.
Update was successful but when hooked back up to the TV (on WiFi) the Apple TV just sat on Acquiring, setting date and time.
I changed many settings to get it working…WiFi…region…time zone…etc…no luck.
I even tried updating the Apple TV on my Mac without success.
What I did was enabled the Personal Hotspot on my iPhone 8.
While in the Acquiring, setting date and time screen on the Apple TV I pressed Menu.
In General/Network I connected the Apple TV to my Personal Hotspot.
Once connected I selected (in the General menu) Reset then Restore.
It did a new software update.
Once the Apple TV was done updating I used the remote (Bluetooth would not connect) and followed directions.
It's back to normal now.
Hope this works for you.