The Persona 4 remake is real and its going to be called Persona 4 Revival. Atlus shared a trailer for the game during the Xbox Games Showcase, confirming its upgraded, likely Unreal Engine 5-powered visuals,

In a brief trailer, we got our first look at P4R: Persona 4 Revival for Xbox, PS5, and PC, and will be available day one on Game Pass. We didn't get to see much of the game, but the environments we got a brief look at appeared to be significantly visually improved from the original.