'Modernize', monetize and ultimately fuck up. From what I understand it was going to be a remake in Unreal5 with the original gameplay mechanics. How they intended to do that with the original voice actors and sound track is a mystery since the'd have to pay for that again or not use them.
At first (to me anyway) it sounded like it's something they could slap together pretty quickly, grab some cash and derail Skyblivion. Now there are rumblings that 'modernize' also includes 'modern audience' and FUCK-THEM-NO-THANKS. Doesn't matter if an outside team is doing the remake, it still has to clear corporate and that's when they'll start fucking it up.
I'll wait for Skyblivion.