Bethesda's Oblivion remake runs Unreal Engine 5

Existence of the imminent Oblivion remake was leaked months ago, and maybe I just missed this tidbit, but today Andy Robinson reported for Video Games Chronicle:

The Oblivion remake is reportedly “fully remade” with Unreal Engine 5, with six reworked gameplay systems: stamina, sneaking, blocking, archery, hit reaction and HUD.

If this is the case and because Elder Scrolls VI is still being developed on the Gamebryo/Creation Engine, I can't wait to see a side-by-side analysis of image quality, performance, and overall "Bethesda jank" between the two. I've been saying Bethesda needs to ditch its in-house engine since two-thousand-fucking-eight when Fallout 3 shipped broken and required years of patches to even feel playable. If this Oblivion remake is a lights-out technical success and I'm Phil Spencer, I'd be kicking shins left and right to convince Bethesda to take the time to replatform Elder Scrolls VI now before it ends up becoming another dud like Starfield.