What a weird special.
The first five minutes consist of the usual Higurashi club shenanigans and after that it's just 15 minutes of the gang standing around and talking about an urban legend in a location that was never mentioned and it never will be mentioned again in the series. The characters literally don't do anything, they just talk about the legend. The story isn't even particularly interesting and, while there are some implications that very loosely tie it to the plot of Higurashi, it doesn't fit in, anyway.
The art, sound and other technical aspects are all on the level of Higurashi Kai, which is fine.
I wouldn't really recommend this to anyone other than the most hardcore Higurashi fans who have watched literally everything else and want to see the characters again. I'm one of those hardcore fans and I did get some enjoyment from seeing the squad again, but I really can't find anything actually interesting about this special. It's pretty much pointless.