It's definitely by far much more similar to Fifth Element than it would be to modern day comic movies. It's clear this is the same director.

But depending on what you want from a movie, you're not guaranteed to like one if you liked the other.

Fifth Element was much more about the story, had a plot that felt like the purpose of the movie, and had more compelling human characters and acting performances.

Valerian, on the other hand, most of the intriguing characters arent even human and play small roles, the human acting is mostly forgettable (although liked the leads more than most ppl did), and the plot seems like a complete and total afterthought.
... BUT, you'll see more imagination juice packed into any given 10 minutes of Valerian than the entirety of Fifth Element (which says a lot, bc Fifth Element was a trip)

For Fifth Element the story was the point.

For Valerian (like most comics) the plot is just a device so our heroes can get us lost in the jungle with all the tigers and bears and waterfalls.

It needs to be digested like a dream or an old school comic book than a traditional film.