I was a day 1 player of the original game and like many others loved when it had come out.
It's cool to see this project happen but I really feel like not porting the game to UE4 is a mistake for many reasons (and as an Unreal developer myself, I know it would not be that difficult).
A few reasons why it should be ported:
-Better Graphics (UDK is old as shit at this point and trying to improve things with an old engine is more labor intensive than just using a modern engine)
-Faster Implementation of new and better features
-Potentially better/easier tools to improve animations
-Better tools for fixing terrain/landscape issues
-Could open up the ability for easier modding of Custom Servers (This could add to better longevity of the game)
-Better logging of errors for easier diagnosing of issues
Also general longevity of the game. This not only would be good for you (the developers) but also the players as well.
At some point even if most of the bugs are ironed out and what not, the game and tech used for it are just going to be so outdated and just feel too old.
In a way it would be like working out every single bug and issue, add anticheat, etc.. in Counterstrike 1.6 but at the end of the day no one will want to play something that doesn't meet some current standards of quality.
Not sure if the team would be up for it but I would like to even like extend my hand in assisting in porting if possible, just for the sake of having a modern version of Nether.