I’m pretty sure it’s the theatrical versions, because all new effects shots (including all recomposed space scenes) would have been only at sub-1080p resolution, which would look worse on a 4k version than the original optical effects. That being said, this doesn’t mean we would get this and not the SE in the end.

In theory it wouldn’t cost Disney a fortune to have ILM re-render the new effects shots in 4k. Re-compositing all the shots involving live-action material might be a bit more work (IF they actually have 4k scans of the newly 1996-filmed material).