It’s 1933. The Oklahoma Panhandle is ravaged by dust storms and droughts so insidious that its occupants are forced to shelter inside, leaving them alone with nothing but a steady, seeping film of particulate matter and their thoughts.

This tension defines the crux of “Hold Your Breath,” a psychological thriller, and the feature debut from Karrie Crouse and Will Joines. Helmed by a lead performance from the reigning scream queen and “American Horror Story” alumn, Sarah Paulson, the film, which premieres on Hulu on October 3, is perfectly positioned to offer a novel take on gothic horror, down to its muted palette and stifling, isolated atmosphere…