Ever since the huge Microsoft leak in autumn 2023, it has been known that Bethesda is working on a remake or remaster of The Elder Scrolls IV: Oblivion. Microsoft has said that much of the leak was based on old information and abandoned plans, but this particular remake has continued to emerge every now and then.
Now one of the strongest rumours so far comes from MP1st who writes that they "can confirm the project is indeed real". The information comes from an anonymous former Virtuos employee who accidently revealed that this new Oblivion will be created entirely with Unreal Engine 5, and that it will be redesigned from the ground up with several improvements regarding "Stamina, Sneak, Blocking, Archery, Hit Reaction, and HUD".
Recently, insider NateTheHate also said that this updated Oblivion will be released as early as June, so we should expect an announcement pretty soon - especially if Microsoft and Bethesda themselves want to reveal something about it before everything is leaked.