Makes sense… Bethesda has never had an issue with taxing the hell out of your CPU. IIRC, Oblivion introduced Radiant AI and it’s still a major reason why Beth games are better at open worlds than so many others. Unreal looks good but Creation Engine in all it’s janky glory is still so utterly perfect for the type of open world game Bethesda puts out.I presume the game logic runs on their original engine and the graphics (possible also physics and other stuff) are done in UE5. I believe that's how Bluepoint Games did the Demon's Souls remaster/remake as well. It makes the development easier (because you don't have to re-do the game logic). It does make the game a bit more demanding on the CPU though.
TBH, I was worried about Unreal being used at all because it has come to mean cookie cutter to me. Demon’s Souls and Oblivion though show that it can be used for something more creative than just making a photo realistic game without soul, at least in part.