After looking up the souls quote, I have my doubts that's what Bluepoint is working on. For starters, it wasn't a guy from Bluepoint saying it. It was Colin Moriarty, former IGN senior editor. I don't think he was saying it in direct connection to Bluepoint, either. He said that he was expecting an announcement at State of Play for a PS4 remaster, presumably of Demon's Souls. The thing is, this isn't a simple remaster. This is supposed to be a bigger undertaking than SoTC. A reimagining as Bluepoint puts it. Colin also says that it is for the PS4. Bluepoint is working on something for the PS5, according to the Wired article.
Considering Demon's Souls age, or lack thereof, I think a remaster is all that is needed for that game, possibly for a launch date of 2021 on PS4, since Sony still likes to support their systems a couple of years after the successor launches. I think Bluepoint is working on something from the PS1 or PS2 era. Something that actually requires a reimagining.