He told USA Today, "I have to see it out of curiosity. That would be myopic of me not to look and enjoy another interpretation of a '70s TV show."
But so far, he's not enjoying the marketing of the comedy starring Shepard as Wilcox's character, California Highway Patrol officer Jon Baker, and Michael Peña as his partner Frank 'Ponch' Poncherello, who was originally played by Erik Estrada.
Estrada, who makes a cameo in the film, attended the film's premiere this week and said he liked what he saw.
"It's going to be a lot of fun and the stunts are killer," Estrada said on the red carpet after praising Pena as "brilliant."
Wilcox, who was not invited to the premiere and does not appear in the movie, is on the opposite end of the spectrum.
"I have not seen the film but the trailers looked like a soft-porn version of 'Dumb and Dumber,'" Wilcox told THR. "However, I hear the actors are both very talented and funny, so maybe it all works."
He's not too bitter about it, telling USA Today he wishes the new team luck.
"Even if you are 'Dumb and Dumber,' it should be a major success by just riding on the coattails of the previous branding bonanza," Wilcox said, which is kinder than previous criticism he made on Twitter this past January.
Way to go Warner Bros - just ruined the Brand of CHIPS and of the Calif Highway Patrol. Great choice!
"Your movie just isn't CHiPs. Sure, it's about the California Highway Patrol, and has two characters named Jon and Ponch, but that's where the similarities end," Sue Walsh wrote. "Now, I understand when you do a remake you have to freshen it up, I don't have any problem with that. You didn't do that though, you just eradicated everything that made CHiPs beloved with its fans (many I need to point out, just like back in the 70s and 80s, are children!) starting with the characters themselves."
Warner Bros. did not immediately respond to TooFab's request for comment on Wilcox's criticism of the big-screen adaptation, but Shepard did issue a statement to USA Today.
"I would hope that Erik would love the movie. And I would hope Larry would love the movie. If they don't, I cannot really control that," he said. "I had to make the movie that I wanted to see."