I honestly don't think it's ready for early 2023, late 2023, maybe early 24. The Creation Engine is what is is, the benefit is that Bethesda is well versed in it. But, there are clearly some perf issues that have to be ironed out, including visual effects that seem to be running at sub 30fps, not to even mention it looked 30fps in a lot of the sequences in general, with room for LOD/pop-in improvement, low res particle effects, etc.
Seeing that it's a new franchise (Potentially) it needs to be solid, all the way around from a visual (Graphics/performance) standpoint, and a stability standpoint.
1000 worlds, and we've only seen a handful, and they weren't that super impressive in terms of design. That's the biggest hurdle imo, how do you spread yourself out across a thousand worlds, from a design standpoint, and give those worlds meaningful points of interest, exploration, quests, rewards, uniqueness, etc.?