I would like to see food and drink play an important part in the game, to give those who like cooking mechanics. Anyone who takes the time to gather the ingredients to cook should be able to prepare food items that let you recover health AND fend off hunger.
Beverages would fall under potion making, like they did in Skyrim.
Hunger and thirst shold never be life-threatening. However when hungry or thirsty, health should take twice as long to recover. If both hungry and thirsty (famished), it will should four times as long to recover health.
Fatigue should also play into it as well. The need to rest in an inn or at the very least, a camp site should be there. When tired, it should take twice as long to recover Stamina. When Exhausted, it should take four times as long.
If exhausted or Famished, Magica should take twice as long to recover. If exhausted AND Famished, Magica should take four times as long to recover.
Consuming food and drink would be automatic so long as you have food or drink in your inventory. If a ration pack is equipped, the pack takes an inventory slot, and food and drink put in it should not count against inventory space.
The best food to take should be travel biscuits. They would take a long time to spoil, though it woul take four of them to fully satisfy. Water would be the easiest drink to obtain, and should quich thirst a lot better.
Thirst, Hunger and Fatigue should have a 1-100 scale. It should be necessary to sleep in a bed or campsite once every 16 hours to fully reduce fatigue. It should be necessary to eat/drink to fullness every 5 hours.
A travel biscuit should remove 25 hunger.
A cup of water should remove 25 thirst
Some disciplines offered through perks could increase the thirst, hunger or fatigue scale max range.
Cooked foods purchased at taverns or inns would not only satisfy hunger, but could actually make it where you won't get hungry again for much longer... Well fed is much better than just fed

Brewed beverages could add some fatigue reduction while contributing to a potential debuff. Imagine having stamina consumption reduced by a beverage, but consume too much of that beverage and suddenly you cannot concentrate enough to cast spells. As a straight-up axe-wielding Nord warrior, you won't need spells for combat anyway. Drink up the mead, scream your battlecry that morphs into a belch, and go shove that axe down some Altmer's throat... and laugh!