I really liked your game and played it till the end of the demo, I have much to say about it so I`ll talk about all the aspects that stood out to me:
Sound:
The sound in this game is absolutely brilliant, it made me feel very anxious and really sold the scary atmosphere you were probably going for.
Movement:
This is really the only thing that may need a bit of work, because even though I can't exactly say why the jumping/falling mechanic kinda doesn't feel right.
Graphics:
The monster design and some environment look great, only the some passages may need a bit of extra detailing work, but thats nitpicking at that point
Animations:
The animation of all things, especially the enemys look great, but when it comes to the player I think the could need a bit of work before a final release.
Other:
Maybe think of somekind of other indication that the player is drowning since the screen going blue looks nice but isn't enough in my opinion. Maybe you hear the characters try catching for air more and more as tehy get closer too drowning or something.
Bugs:
There were a few, nothing too big, but I wanted to add them.
1.) Sometimes the ropes that the player would slide down would spawn too late and you could see it (don't know if thats a bug or intentional)
2.) When the player on the rope swings against a wall a it causes the player to be just holding air, with the rope a bit offset for a short bit
3.) When the player does the dodge into a sliding down rope thingy, the dodge either stays on while the player is on the rope or the player falls down, looking like they hold the rope and the game is softlocked (added picture below)
Overall the game looks great, keep working on it, because it has the potential to become a great 2d horror platformer :)