Well, 2017 movie is simply some kind of a remake of 1991 animated one. So story is one and the same, based on classic fairy tale, written in 18th century by Gabrielle Suzanne Barbot de Villeneuve. Probably she set her story in the time she wrote it. Both (all, if we count non Дисней versions) Фильмы are based on this story so Фильмы story is set at the same time as book's, we can say that about all the versions, except is there are some modernized movie ones (I don't know if there are) like Baz Luhmann's movie adaption to "Romeo and Juliette". So 1991 movie is set in 18th century just like 2017th one. 🙂 Hope I helped.