This is what Fallout 5 would look like powered by Unreal Engine 5

Bethesda is still working on Fallout 5, but now we have "ENFANT TERRIBLE" teasing a new Fallout 5 fan concept trailer based on Unreal Engine 5, and it looks fantastic... check it out:

The modder explains: "We can't wait for a new Fallout! Take a look at this GREAT footage from different Unreal Engine 5 reels and projects and imagine how the next Fallout 5 or Fallout 4 sequel might possibly look like. Maya, Substance 3D Painter, Redshift, Blender, Cinema 4D, Unigine, 3DS Max, Photoshop, Quixel Mixer, Quixel Megascans, Marvelous Designer, Character Creator, Lumen, Nanite, World Creator, Zbrush, Rokoko Smartsuit 2, Quixel Suite, 3D Substance Designer and VFX were also used".

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We don't know about Fallout 5, nothing at all really... as Bethesda Softworks has been a mess for a while now. The developer is also working on Starfield, which has been delayed through to 2023, as well as Fallout 5 that is in development right now.