The project (movie? TV Show?) will use Unreal Engine 5 for its animation
Edit: after searching for more infos, it seems that someone present at the expo was able to interview one the writer of the project and he said that they used thunderbolt and 08th MS team as influence. The story will also be focus on Zeon side.
Yes UE5 support raytracing. Thanks to that and other technos inside UE5 yoy can achieve photorealist modelisation… If Sunrise do it right we can expect a near live action project