Bethesda is working on a Fallout 3 remaster, though the project hasn't been officially announced yet

According to VGC, Bethesda Game Studios is indeed working on a Fallout 3 remaster. Sources claim this is the "spinoff project" previously mentioned by studio head Todd Howard, who spoke of parallel work on Fallout 76 and another project.

As journalists note, the Fallout 3 remaster is being developed in a similar fashion to the updated version of The Elder Scrolls 4: Oblivion, which was developed by Virtuos Studios. The updated Fallout 3 is expected to retain the basic structure of the original, but will feature significantly improved graphics and reworked visual effects created using the legacy Gamebryo engine.

Insider NateTheHate previously hinted at the remaster's development, adding that its release would not be imminent. According to one theory, Bethesda may time the release of the updated Fallout 3 to coincide with the original game's 20th anniversary, which is expected in 2028. The company has not yet officially commented on these rumors.