Red Dead Redemption, releasing over a decade ago at this point, was an open world adventure that captivated many. The first Red Dead Redemption is still widely considered one of the best games of all time, which is why rumors of Rockstar Games remaking/remastering it continue to rise.
Frankly, it would be a logical progression from the prequel to step back into the shoes of John Marston's story in more modernized form. Even though it's not likely any time soon, playing either a remaster or remake of Red Dead Redemption on a similar graphical scale of its successor would be the perfect way to bring the story full circle. Theoretically a Red Dead Redemption remake could also be the perfect set up for a sequel as well, assuming Rockstar Games even wishes to take the Red Dead story that far. While it's unlikely given that Rockstar Games is likely working on a certain other flagship franchise, a Red Dead Redemption remake would be perfect as next in line.
A Perfect Segue Into a Red Dead Redemption Remake
One of the first thoughts among hardcore fans after finishing Red Dead Redemption 2 happened to be a pretty common thread: What if Red Dead Redemption was remade in Red Dead Redemption 2's engine? While both games were technically developed under the R.A.G.E proprietary engine at Rockstar, the graphical fidelity and presentation has come a long way since 2010. Plus, with Red Dead Redemption 2 including a significant portion of the original Red Dead Redemption map alongside the new content, many assumed that portion of the map was included for the express reason of a future remake.
It's not unfair to assume that portion of the map was going to be used at some point for the game, however there's not a single main quest in Red Dead Redemption 2 that brings players out to Armadillo or any of the surrounding regions. The closest players could get there through normal quests are in the epilogue for the game, which doesn't go any further west than Blackwater. Players are free to venture out there at their own leisure, and there's even populated towns and a few side quests to complete out there as well. While there's not much to do there during Red Dead Redemption 2, that area of the map could be a perfect jumping off point for a Red Dead Redemption remake.
Expanding the Western Classic
Part of why Red Dead Redemption 2 was able to succeed as well as it did was because of its context, with fans knowing the ultimate fate of the gang and John Marston's eventual quest. Obviously that wasn't everything, but it was a big part of the game's narrative despite the story being centered on Arthur's journey. However, that purposefully in-depth epilogue with John Marston sets up a remake of Red Dead Redemption perfectly. Returning to New Austin, knowing fully well what happened to Dutch's gang and Arthur, makes one of the best Rockstar Games narratives that much better. Plus, with modern amenities, Red Dead Redemption could become even more impressive.
The original game could be expanded even further in a variety of ways, incorporating elements from Red Dead Redemption 2 such as the new region or the many systemic interactivity in the game. Red Dead Redemption 2 took a lot of risks and put a lot of effort into making a western simulation alongside its compelling narrative, adding various elements of gameplay outside of the main storyline for players to partake in. Plus, considering Red Dead Redemption 2 took the time to map out half of the original Red Dead Redemption's world map in-game, that's a solid brunt of the work already done ahead of time.
John Marston's Story Isn't Returning Any Time Soon
Of course, at the end of the day, remaking Red Dead Redemption any time soon is highly unrealistic. Rockstar Games is almost certainly working on the next Grand Theft Auto first, so it'll be a while before a remake could be realized. However, it's definitely not impossible given that there's plenty of circumstantial evidence that could lead to a future where Red Dead Redemption is remade. For one thing, the original game was never re-released beyond PS3/Xbox 360. Rockstar is clearly not averse to re-releasing and optimizing its games, considering Grand Theft Auto 5 is being re-released again for PS5/Xbox Series X.
There is the slight possibility that Red Dead Redemption has not been re-released yet because it's being remade instead, but there's nothing even remotely concrete to support that theory. The proposition of a Red Dead Redemption remake isn't wholly unfeasible, it's just not going to happen any time soon. Red Dead Redemption 2 took over five years to make. Actors would need to return for re-recording or motion capture, a significant amount of development time would be required to finish designing the Red Dead Redemption map, and systems would need to be overhauled to match Red Dead Redemption 2's framework (or something similar).
Again, not totally unfeasible, but a Red Dead Redemption remake theoretically has a lot more work to do.