UPDATE 1/2/24: As part of its post-PlayStation State of Play extended coverage, Sony has shared more on developer Ballistic Moon's Unreal Engine 5 take on Until Dawn, and it seems we're looking at a full-on remake - significantly overhauling some of the original's fundamental mechanics - rather than a simpler remaster spruce-up.
As detailed on the PlayStation Blog, this new version of Until Dawn ditches the fixed camera angles of the original in favour of a new third-person perspective - a perhaps surprisingly change given the whole point of the original was to replicate the classic slasher movie experience, complete with the genre's familiar cinematic language, albeit with an interactive twist - and it doesn't sound like Ballistic Moon was content with the first game's hokey horror vibes either. This new version is aiming to be "more nuanced and emotional", with a "broader cinematic tonal colour palette" compared to the original's wintery blue hues.
As well as expanding the original narrative with "unexplored emotional parts", Ballistic Moon says it's adding new locations, enhancing old ones, introducing new interactions (including new "contextual character movement animation"), and new collectables. That's in addition to a radical sound overhaul - there's talk of a "completely new soundscape" and Ballistic Moon is jettisoning original composer Jason Graves' score in favour of new music from Mark Korven.