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Yeah, that is just a UE5 tech demo, using TW4 assets, not really TW4 demo.

I do understand from business perspective why switching to UE5 is "sensible choice" (though probably only short term), with "easy hire, easy fire" mentality, that you can't have when having in-house engine like they used to (or Gureilla with Decima, or Ubisoft with Anvil, or Rockstar with RAGE), but UE5 is not really optimal engine for open world games, and I really wish they kept on with improving REDEngine instead of switching to UE.