https://docs.python.org/3/library/codecs.htmlThe encoding `unicode_escape` is not about escaping unicode characters. It's about python source code. It's defined as:
> Encoding suitable as the contents of a Unicode literal in ASCII-encoded Python source code, except that quotes are not escaped.
It makes absolutely no sense to have escaped unicode characters as actual unicode string. If you really need that, a version that also works in python 2 would be:
u'hellö'.encode('unicode_escape').decode('ascii')