Changes are mostly based on in game descriptions, including ones from other Elder Scrolls installments.

New game is highly recommened (if not required) for a mod to work!

Screenshots made using WAPA
Screenshots are from NoSWH version (No Skills, Weight and Height changes)

Similar mod changing Birthsigns https://www.nexusmods.com/morrowind/mods/49677

List of changes compared to vanilla:

Altmer

Name changed from High Elf to Altmer
Willpower +10 (Described as strong-willed in game)
Agility +5 (Described as deft in game or agile in other installments)
Female Speed -5
Male Endurance -5
Personality -10 (No explanation needed)
Raised Magicka Multiplier to 2 (was 1.5)
Lowered Weakness to Magicka to -25
Lowered Weakness to Fire to -25
Raised Weakness to Frost to -50
Resist to Shock +25 instead of Weakness -25
Added Resist Paralysis +75 (Immune to Paralysis in other installments)

Argonian

Strength -5
Female Intelligence -5
Male Willpower +5
Male Agility -5
Male Speed -5
Endurance +5
Personality +5
Added Magicka Multiplier 1 (Consistently described as skilled in arcane arts and raising Magicka is their class ability in TES: Legends)
Added Weakness to Frost -50
Lowered Resist Poison to +75
Added Swift Swim +25

Bosmer

Name changed from Wood Elf to Bosmer
Male Strength +5
Male Intelligence -5, Female Intelligence -10
Male Willpower +10, Female Willpower +5
Male Endurance +5
Male Personality -15, Female Personality +5 (Males are hideously ugly and Females are beautiful)
Added Fortify Attack +5
Added Sanctuary +5
Added Resist Poison +50

Breton

Male Strength -5
Female Speed -5
Endurance +5
Raised Magicka Multiplier to 1.5 (was 0.5)
Added Resist Frost +25
Added Resist Paralysis +25

Dunmer

Name changed from Dark Elf to Dunmer
Male Strength +5 ("Strong physique")
Intelligence +5 ("Powerfull Intellect")
Agility +5 ("Agile physique")
Speed -5
Female Endurance +5
Personality -5 (No explanation needed)
Luck -5
Added Magicka Multiplier 0.5
Added Fortify Attack +5
Added Sanctuary +5
Lowered Resist Fire to +50
Added Resist Frost +25
Added Resist Blight Disease +25

Cyrodiil

Name changed from Imperial to Cyrodiil
Strength -10 (Described as "physically less imposing than the other races")
Female Willpower -5
Agility +10
Male Speed -5
Endurance -5
Luck +10
Added Fortify Attack +5
Added Sanctuary +10
Added Resist Magicka +25
Added Resist Frost +25
Added Resist Shock +50

Khajiit

Female Strength +5
Willpower -5
Speed +5
Male Endurance +5
Personality -5
Added Sanctuary +20
Added Weakness to Fire -25
Added Resist Frost +50
Added Resist Poison +25
Added Night Eye +25

Nord

Intelligence -5
Male Willpower +5
Speed -5
Female Endurance +5
Personality +5
Added Fortify Attack +5
Lowered Resist Frost to +75
Added Resist Common Diseases +25

Orsimer

Name changed from Orc to Orsimer
Strength +5
Female Intelligence -5
Willpower -5
Male Agility -5
Speed +10 (Athleticism was their trait in Daggerfall and sprinting is their strength in ESO)
Personality -5
Added Fortify Attack +10
Added Resist Frost +50
Added Resist Shock +25
Added Resist Normal Weapons +25

Redguard

Male Strength -5
Speed +5 (Blessed with quickness of foot)
Female Personality -5
Added Fortify Attack +15
Added Resist Magicka +25
Added Resist Fire +25
Lowered Resist Poison to +25
Lowered Resist Common Disease to +25

Additional Changes to Races Height and Weight

Breton Male Height changed from 1.0 to 1.05 (Described as "tall" in Arena and Daggerfall)
Breton Female Height changed from 0.95 to 1.0 (Described as "tall" in Arena and Daggerfall, but smaller than their Male counterpart in Morrowind)
Dunmer Height changed from 1.0 to 1.05 (Described as "tall" in Arena and Daggerfall)
Cyrodiil Male Weight changed from 1.25 to 1.0 (Described as "physically less imposing than the other races" in game, this makes Caius look much less impressive)
Orsimer Height changed from 1.05 to 1.1 (Morrowind Concept Art describes them as "same height as High Elf")

Additional Changes to Races Skill Bonuses

Altmer: Alteration +5, Mysticism +5, Alchemy -5, Enchant -5
Argonian: Athletics -5, Spear +5, Unarmored -5, Security +5
Breton: Restoration -5, Speechcraft +5
Dunmer: Athletics -5, Medium Armor +5
Cyrodiil: Heavy Armor +5, Long Blade -5, Light Armor +5, Mercantile -5
Khajiit: Acrobatics -5, Sneak +5
Nord: Medium Armor -5, Mercantile +5
Orsimer: Athletics +5, Block -5