I can assure you that the mod won't look just like the Ultimate HD edition. I've played it on PC, and the mod looks miles better (it's really in a league of its own)
He means the upcoming PS4 version will look just like the standard UHD edition, not this mod.
It would be nice if Capcom paid them for their work and shared the mod with PS4/One owners, but as others have pointed out that would probably be too complicated for Capcom to be interested. Fans are free to pull whatever resources they want from the internet for a mod, but a company selling a product has to be more careful about permissions. I wonder if it would cut some of the red tape to offer it as free, optional DLC without ever technically including it with the purchased product.