PvE generally feels pretty empty. The game was clearly made for more pvp oriented activity. I think adding some sort of quest givers that add radiant quests would be a good start. Maybe add some more settlements to the map with neutral/friendly npcs. The combat can be fun but fighting things just for the sake of it gets a little old. Outside of animals the world feels so empty. Adding some friendly/ enemy patrols and maybe adding a village building mechanic where making a certain amount of buildings in one area will begin to attract friendly npcs.
Next is the combat. It feels much too arcadey in my opinion. Stab with spear, roll back quickly, rinse repeat until enemy dies. I think it should be made more visceral. Maybe add locational damage so I have a reason to aim for the legs or the arm. Making it more realistic could be great too. One swing of my greatsword placed perfectly at an enemies neck takes him out in one swing. But if I get too greedy with a flurry of strikes to his shield, he swings his mace at my arm and breaks it. Right now the combat system is a bit boring. Sliders are nice but even increasing damage for both sides, the striking feels super arcadey. A system like Skyrim would be more fitting in my opinion.
Finally give the game a purpose. Sure there are world bosses but what is my motivation to kill them? To get good loot? To use for what? More world bosses? After I am done with those is the game over? I think that needs more direction. Maybe a dynamic holy war system. The different religions fight over land and constantly battle and take over each others cities. The different priests give you quests to help their cause which in turn spreads their influence.