QuoteSkyblivion, an ambitious fan project that aims to recreate Oblivion in Skyrim, is also a while away from launch. But, if you want to play The Elder Scrolls 4: Oblivion with modern-day graphics, you might not have to wait much longer.
One of the biggest problems with Skyblivion is, that it's complicated to get installed: You need to install Skyrim Special Edition, then install Oblivion GOTY Deluxe, and then install the Skyblivion Mod. That's 3 steps to get it working. In my opinion, that's not something many people will do.
The Remaster will probably be much easier to install. Probably a standalone game with a single install.
If you believe that installing is not an issue, think again: there is also a very sophisticated graphical mod for GTA 3, but when the official Remaster came out - which was inferior than the mod - most people still bought and played the Remaster.
And that same thing is about to happen with Skyblivion. So even if the quality of Skyblivion mod is superior than the Remaster (and I'm pretty sure it is), most people will just buy and play the Remaster.
And if the Oblivion Remaster is released earlier than Skyblivion, it will also take away all attention from the mod.