It's possible Konami — video game publisher and rights holder for the Metal Gear franchise — will support Shadow Moses, a fan-made remake of Metal Gear Solid using Unreal Engine 4. There's an industry precedent: publisher Sega contracted the indie developer that ported Sonic the Hedgehog to iOS to handle the official release. For Sega, that decision offers a short redemption narrative after years of negative press over the rapid decline of official Sonic releases. Though I wouldn't count on Konami following Sega's lead.
Last year, Konami pulled Silent Hills promotional short P.T. from the PlayStation Network following Silent Hills' cancelation. When a company is keen to erase its own product, already officially released, the odds of a small fan project's survival appear low.
The creator of Shadow Moses is aware of the pitfalls of developing a fan remake of a multi-million-dollar franchise, and appears to be seeking Konami's official support before committing too much time to the project. Here's a quote from the Shadow Moses Facebook page.
We just need to clarify something:
Konami owns the MGS copyright and therefore sooner or later
we will need their full permission.
We have therefore chosen to openly share this project from the beginning so that we can deal with any issues that may arise as they come.
We believe this is better than putting years of work into a project only
to get it shut down.
Please, respect this decision.
Thanks for your attention,
The trailer will certainly get Konami's attention.