We present a theory for thin films of the Dirac semimetal Cd₃As₂ in the presence of magnetic fields. We show that, above a critical thickness, specific subbands n of thin film Cd₃As₂ are in a quantum spin Hall insulator regime and study their response to in- and out-of-plane magnetic fields. We find that sufficiently large in-plane Zeeman fields drive the system toward a 2D Dirac semimetal regime, provided the field is directed perpendicular to a high-symmetry mirror plane. For other directions, we find the Dirac points to be weakly gapped. We further investigate how the system responds to finite out-of-plane field components, both starting from the quantum spin Hall regime at small in-plane fields and from the 2D Dirac semimetal regimes at larger in-plane fields, addressing recent experimental observations in A. C. Lygo et al. [Phys. Rev. Lett. 130, 046201 (2023)] and B. Guo et al. [Phys. Rev. Lett. 131, 046601 (2023)].
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