Compared to Supermassive Games' PlayStation 4 exclusive released in 2015, the new version (which also runs a newer engine) has surprisingly strong visuals.
We can already hear in the form of rumors before the announcement in State of Play about a new version of Until Dawn for PlayStation 5. It has now become official that it will be released not only for PS5, but also for PC, and the developers will use Unreal Engine 5 for this. Ballistic Moon is working on the new version. There will be many innovations in the redesigned version, including an external view camera. With the help of the latest tools and technologies, new and more advanced animations will look even better (although there are no problems with the originals). The characters, environment and visual effects have also been revamped to create a truly enhanced cinematic horror experience.
On YouTube, Cycu1 compared the original PlayStation 4 version (released over eight years ago) to the PlayStation 5 version, and since there is no publicly available copy of the Until Dawn remaster, he apparently only used material from the trailer as Following: Reference. From this alone, you can see that textures and lighting have noticeably improved, and if Sony later shows off some gameplay from Ballistic Moon's work, there will certainly be another comparison (likely to be done by another custom YouTube OS, set up By ElAnalistaDeBits).
“We're using a wider color palette with cinematic colors and new perspectives to make the story more nuanced and emotional. We've been brave enough to highlight the dark and unseen corners of Blackwood Mountain and added a third-person camera, which means you can now peek behind the game's curtain.” “With the addition of an external view camera and context-based animation of character movements, the game now allows the player to truly experience the experience of that fateful night,” the developers wrote at the time of the announcement, improving and exploring new locations through new interactions and collectibles.
Until Dawn will be coming to PlayStation 5 at some point this year (and maybe even to PC this year, as it likely won't be coming to both platforms at the same time).