Strangely enough, I lived through a version of this many years ago. I was a college debate coach at the University of Missouri Kansas City in the early 90’s and I had a student who put out a hip-hop song called “How I killed George Bush” with his group F-Crips (which stood for Fargo Crips a play on how white his hometown of Fargo North Dakota was). The entire song was told in the past tense and purposefully contained a large number of fictionalized elements).
Despite all of this, he was visited by the Secret Service and there were interviews etc. Eventually they realized that they couldn’t win a sedition act case or come up with a good reason for restraint of free speech, so it went away.
Obviously, what we are facing today goes well beyond a sedition act case.
One word of encouragement, despite all of their faults, this is one of the most pro-free speech Supreme Courts of modern times (including the conservative justices). In the short-term they won’t help us much, but I am fairly confident that they will stand up for speech (maybe not much else if DJT gets another appointment).