Yeah, I don't think they should change his look. The Perez design, IMO, is iconic and kind of screams "cool supervillain":
The only thing I think that needs to be done is to give him a more prominent role in the DC Universe. DC doesn't really do many huge, sweeping crossover events unless the villains' names are Darkseid, Anti-Monitor, and/or Lex Luthor. Other villains have gotten big storylines, but not many, or they're one-and-done villains created for
that storyline and then never seen again. Anyone remember Imperiex?
I want to see Ares beome, like, a Magneto or Doctor Doom-like figure in the DCU. Give us a story where his power and cunning are on full display. They should have taken the opportunity to do more with him when the Wonder Woman film came out.