Hardcore fan of the series here, they really need to do a few things before porting it tbh:
* Stamina system needs to go back to what it was in 1 and 2
* Combat needs more mechanics. Throws need to come back.
* The game's overall appearance feels off. I think some tweaks to lighting would be enough. New consoles should have enough power to manage it.
* (unlikely) Story beats need more punch. There's a lot of build up to meeting Shenhua and finding out about Iwao's past in 1 and 2. 3 really shits the bed here, there are SO many opportunities to meet Iwao's old acquaintances. Find stuff via exploration, etc... Literally none of that exists at all.
* Final act was clearly 90% cut. What should've been a Yellowhead style dungeon is basically a few hall ways with dudes standing around. Give them a few more months and a modest budget and it can be filled out with puzzles, unique enemies, mini bosses.
Even a few of those would be nice to have. But if they wanna test the waters for a sequel, the storytelling MUST be at the bar of 1 and 2. 3 simply isn't there and without the good storytelling, the rest of the game can't carry the experience.