Originally posted by GunsForBucks:

Progress a character in various skills in an open world type setting.

While there are many other differences these things are key points, to me, in being similar.

OP wasn't exactly clear on what they wanted specifically beyond magic.

Call of Duty (any entry) is just as similar. You control a character and there is combat involved, as well as some story. /s

It's clear that one of the most important things about Valheim is actual base-building and typical survival element (resource gathering, hunger/thirst, etc.).

Neither Oblivion, Skyrim or any other Elder Scrolls game is in any capacity similar to Valheim except maybe that there are some Nordic/Viking culture elements present and that you can describe worlds of those games as "medieval fantasy". Please, use your brain cells from time to time.