This isnt just a simple slapped together remaster, but one where most character models have been completely overhauled, making it a little more modern, although maintaining the low resolution pre-rendered backgrounds and cinematics. Because of this, this is still in the original 4:3 ratio, with no widescreen option (although like most games, that would have probably lead to simply zooming in and cutting off a portion of the picture).
Source: N4G PC Final Fantasy VIII Remaster Face-Off: PC vs. PS4 vs. Switch