Feudalism itself had strong variance in the amount of suppression of the underclass. The albigensian crusade, for example (the anti-cathar crusade) was to suppress the egalitarian anti-clerical sect which had been successfully renegotiating the relation between clerics, nobility and peasants in the favor of the peasants for 100 years by then. That was successful in mostly killing them all. But the dithsmarchen were able to successfully have a de facto peasant republic for 200, 300 years after successfully repelling an invasion in the late 12th century and they got back into the holy roman empire by a negotiated settlement, by dint of being way more armed and harder to invade.
Modern feudalism will be the right to control your access to "required services" needed to be considered a normal member of society.
Ex - who needs to get physically violent with you when locking you out of the banking system, removing your ability to speak in online spaces, and crippling your ability to use network based services is much more effective at disenfranchising you, without the bad publicity of direct violence.
You won't be harmed physically, you'll just be permanently disenfranchised and second class.
[0] https://www.cbsnews.com/news/anthropic-researcher-jacob-coxo...