Hmm, Matty brings out some good points as far as concerns when it comes to the rumored Oblivion remake. Firstly, the hybrid of UE5/Gamebryo engine. Results of hybrid engines within UE have been....mixed. He gives a couple of examples like GTA Trilogy and Halo MCC. Both games were in terrible, terrible states when they released. It brings up the concern about the level of mod support that can be expected as well.
There's also another notable example that I thought of with Quake Champions where it was a hybrid of Saber's proprietary engine and id Tech. The game just had a lot of technical issues that were never fully resolved to this day. So the concept of hybrid game engines being used has had very mixed results. MCC eventually became great, but it took years.
Then there's also the concern of just Virtuos being the developer. Their most recent work was The Outer Worlds: Spacer's Choice Edition. The other more recent notable project of theirs was the PC port of Horizon: Zero Dawn which was bad at launch and Nixxes had to come in and fix the game.
So Virtuos's reputation is.....more on the negative side. So them being tasked with a remake of Oblivion on a hybrid engine isn't exactly instilling confidence.