It's a quip, by American poet and humorist Dorothy Parker (1893-1967). There's no need for a deep analysis of "fresh". It's something she apparently said when answering the doorbell: "What fresh hell can this be?" It's comical, dramatic, satirical and poetic all in one. :)

The first is more astonishment, the 2nd is a more polite version of 'what fresh shit is this' which is both a statement and showing astonishment (plus swearing). At least, this what I would think if someone said it to me....

Appreciated.

I would expect it if the person is already in a horrible situation, and realizes that things are about to get much worse. They are already in hell, and now they must face a new, "fresh" hell.

It pretty much means the same. Fresh in this case means new. As a native speaker I’m not familiar with how this is spoken. We would say..”what the hell is this” rather than include the word fresh. But as usual, opinions may vary. Good luck.