Here is the railing that was painted.

Remove it and start from scratch.

I also agree to replace it with a wood one.

Covering is much less expensive than replacement, believe me.

Apparently the new wooden handrail would require a "plow" which would be cut to the shape and width of the metal handrail. You could then drill holes through the metal and attach the wooden handrail with screws from underneath. Covering the angled portions would require miter joints.

Would I do it? Nope, the ballusters, particularly that heart-shaped thingy in the middle say, "this ain't modern." Given the way the railing is attached to the landing and treads, it looks like it would be an easy retrofit...and look a lot better.

-- amateur

Does it really need modernizing? Your landing decor looks country/traditional, so to my eye the design is not offensive. If it were my house, I’d paint it a tone from your wood so that it’s less of a feature. I would look for more impactful ways to spend improvement money.