It's a reimagination rather than a remake. The premise is the same in the sense that it's story about Harry searching for his daughter after a car crash. But the story itself and character personalities are different.
Where it starts getting fuzzy is that Resident Evil 2 Remake's characters are very, very different to their original versions, and there are significant story changes all over the place.
However, Shattered Memories is basically an unrelated Silent Hill game presented by Climax to Konami as a remake of Silent Hill because that was the only way to get the game greenlit. They pretended it was a remake of Silent Hill, and were careful not to show Konami anything that contradicted this. They also waited until some production staff changeover at Konami and used that opportunity to axe game design elements they didn't like, such as combat, while Konami was distracted and therefore not in a position to stop them.
The thing that troubles me about Silent Hill in general is that people say they want a Silent Hill remake, but I'm not sure people actually know what they want. Remember how much shit Metal Gear Survive copped for "poking zombies with a stick". Well, you spend huge chunks of Silent Hill blandly hitting monsters with a blunt object. Like, that's the incredibly thrilling core gameplay loop right there. A lot of people were willing to forgive the gameplay of Silent Hill at the time, and even when they got those not-great remasters. But if you make a shiny new Silent Hill remake and it looks a million dollars, there is gonna be a problem if it plays like an older Silent Hill game. "Oh, it's supposed to feel incredibly shitty to play because TENSION" isn't going to cut it with reviewers or even casual audiences in general.
A lot of people love PT, but it was even further removed from the old Silent Hill formula than Shattered Memories was. And we don't even know how Silent Hills was going to play. The Evil Within 2 is extremely Silent Hill-esque, and that game is quite divisive. Resident Evil and Silent Hill were always different, and RE is easier to turn into a kinda slick third person shooter with puzzles and looping level design. Turning Silent Hill into something universally acclaimed while preserving the things people liked about the original is a tall order, IMO.