This game looks like grown-up Zelda: Breath of the Wild. I played BOTW, and it seemed like they were trying to become like Dark Souls in some ways, but failed because they are still focused on traditional Nintendo children's Zelda game. And with Elden Ring, the souls series is become more like BOTW in terms of open world environments. I really didn't like how BOTW approached the open world design, and I would put money down on FromSoft doing an open world justice that Nintendo could not do properly.
For one, traveling in horses maybe useful in ER. In Zelda horses were pretty much useless due to environmental constraints (horses cannot move up certain level of inclines). ER is solving this by areas you can fly up to high places.
I personally liked the souls series for amazing dungeon designs, and not sure if open world is really necessary. I like the cool castle and dungeon designs you traverse throughout the game. That is their classic trademark in terms of design.
I found a lot of the ideas and designs in BOTW impractical, but based on previous history of Souls games, we know FromSoft is very practical in their approach to design. Their designs is straightforward, no nonsense, and I hope it is so with anything new they bring to the openworld such as horses (that it is actually practical).