There is no single right answer for modernizing Delphi / Object Pascal. Here is what the realistic paths actually look like, and what matters most when choosing between them.
Delphi compiles to a genuine native executable with no separate runtime, which is part of why it has stayed viable for so long, but it also means a migration to a managed runtime (Java, .NET) is a bigger architectural jump than it looks on paper. Idera/Embarcadero continues to ship real Delphi releases (RAD Studio 13 in 2025), so for many shops the realistic path is staying on a current Delphi version rather than migrating off it entirely.
Rewrite or convert to a new platform
Vendors taking this approach for Delphi / Object Pascal: Ispirer.
Keep it running, don't change it yet
Vendors taking this approach for Delphi / Object Pascal: Idera / Embarcadero.