The name of the Legend of Zelda mod has been given to CiscoRamon#1609 on discord and they renamed it to "The Legend of Terra" and it's currently a huge, unreleased work in progress.

The Legend of Terra will be a Terraria 1.4 mod based on The Legend of Zelda. Their long-term goal is to implement content that covers all of the current LoZ games. At the time of writing this, they currently have a large selection of assets they're ready to use but unfortunately they're unable to fully utilize them right now because they're in dire need of a coder. They're looking for coders, spriters and even someone who can help with audio files for the mod. If you're interested in following along or helping, feel free to join below!