Unfortunately, while I fully well agree on an ethical standpoint that yes, since the big companies aren't providing accessible games there should be no restriction on creating accessible versions, sadly there have been a number of cases in the past where has resulted in legal stupidities.
tom Ward contacted Lucas arts about creating a starwars game, and was told that he'd have to pay several tens of thousands of dollars for the privilege of using even starwars characters, names and music in a commercial work, let alone trying to directly create audio versions of any existing starwars games.
Then, people remember how poor tom was set to release his audio remake of the atari 2600 game, montizuma's revenge, under the name of montizuma's return. He completed about six levels of the game and was even selling commercial copies, when he received a lovely cease and dicist letter from a game studio who were producing a game with the same name. nevermind that their game was not the least accessible.
I suspect in this instance Tom certainly could have made a case and the existing cease and dicist letter was more a scare tactic than a serious threat, probably from someone at the company who googled and wasn't even aware Tom's game was an audiogame, but sadly the net result was Montizuma's return got taken down.
Yet, all this being said, fo course Phil Vlasac hasn't had any hassle over Sarah and the castle of witchcraft and wizardry, though since that only uses the harry potter names, characters and world and doesn't actually reuse sounds or gameplay ideas from any existing harry potter game, its quite possible that it went under the radar.
ditto with packman talks, though since there have been so many packman games over the years what the current status of packman is I don't know.
Freeware remakes of games used to be fair game, indeed their used to be a site called Retroremakes" which was exactly that, though with the increasing power of the mega coorporations that is getting more difficult, Nintendo recently in 2016 suppressed the release of a really good freeware Metroid ii remake, just in case it might be better than their own.
So, at the moment its probably better to steer clear of using actual game characters in audio remakes, though of course if someone wanted to make an audio side scroller about the fabulous fettuccine brothers who must jump their way through the fungus kingdom, stomping on the heads of toad soldiers and boopers in order to defeat the evil toad known as king Scouser and rescue lady lichen, I don't think there would be an issue .
With our dreaming and singing, Ceaseless and sorrowless we! The glory about us clinging Of the glorious futures we see,
Our souls with high music ringing; O men! It must ever be
That we dwell in our dreaming and singing, A little apart from ye. (Arthur O'Shaughnessy 1873.)