Those graphics look like they could run from a HuCard if SFII is any comparison
CD games are the same as HuCard games, only they're bottlenecked by only being able to run a small segment at any given time.
That's why SFII' wasn't also released for Super CD, because a match wouldn't fit within the tiny space that CD games have to run out of.
Er, have you seen Art of Fighting or Fatal Fury Special on PCE CD? Both are considerably more advanced than SFII!
It's still just sprites and tiles and no kind of "hardware parallax" or anything else. Instead of a gameplay segment being stuck with half a meg or 2 megs, the Arcade Card expands upon the Super CD's space to allow up to 18 megs used at once.
All three CD formats use identical hardware, which only adds parallel adpcm and redbook audio channels. Otherwise CD games are pretty restricted for what can be done compared to HuCards and cart games in general.
That's why many CD versions of HuCard games have neutered assets.