“Graphics” is a broad term. We update “graphics” all the time, like when we raise the visual bar with DLCs or when we up-rez an old monster (most recently Dranghouls). But there are limits to this approach.
It’s not going to be enough to just up-rez the entire game, which would be a tremendously expensive undertaking in itself. We would also need to fundamentally rewrite the engine to integrate new tech for rendering, lighting, and FX.
We’re talking remaster levels of work, at which point shouldn’t we just…make Grim Dawn 2?
Not to mention that in doing so, we would have to raise the system requirements for the game, and that seems like a dick move after 9 years. Not everybody wants to, or can afford to, keep up with the latest hardware.