The mod is called Fallout 4 New Vegas and it’s by Team F4NV, which announced their project back in August. The goal is not only to update Fallout: New Vegas, beloved by many fans as the best in the series, but also to expand and refine its gameplay. Take a gander at that perk system, for example, as the Courier strolls into Goodsprings and levels up.
Some old mainstays, such as the reputation/faction system that Obsidian reintroduced for New Vegas (and hasn’t been in either of the Bethesda Game Studios’ Fallouts) can be seen as well.
The mod has no launch date or timeframe yet; understandable, as huge projects staffed by fans working in their spare time can go on for years. Skywind, the mod trying to update The Elder Scrolls 3: Morrowind in The Elder Scrolls 5: Skyrim’s Creation engine, has been going in alpha for years (but still making progress).
Another mod: Fallout: The Frontier — a total conversion mod of Fallout: New Vegas that takes the story to the Pacific Northwest — is overall 80 percent done, according to its mod team. They’re shooting for a launch by the end of 2018 at the latest.
For those wondering what Bethesda’s posture on all this might, the short answer is they don’t really official blessing, but they don’t crack down unless something seriously threatens their intellectual property. As far as I can tell, they’ve never commented on these things specifically.
Generally speaking, as long as what users are modifying is based on a toolkit Bethesda provides — and thus isn’t breaking apart the copyrighted code of the game itself — it’s been OK. Besides, the fact Skywind and Fallout: The Frontier have gone so long with their efforts — including after the introduction of the Creation Club and Bethesda taking a larger role over the modding of its games — probably means Fallout 4 New Vegas is in safe territory.