For most applications, moving to modern C++ is going to be a better option than rewriting in Rust.I wouldn't bet on that.
Companies which go with a language like C++ don't do it for "safety" or "performance" or reasons like that (at least, most of the time they don't). They go with it because they can get something written once, then run it for the next half-century and only have to spend engineering time on new features and the occasional critical bug. Telling them they need an intrusive rewrite of their entire codebase to use modern practices will simply result in either (A) no action taken (most likely) or (B) the rewrite happening in a language that isn't C++.
This is incidentally what happened with quite a few significant Python codebases in the 2/3 transition -- rather than rewrite their code to Python 3 standards, they said "eh, we're rewriting anyway, let's go to Lua" (most often, though some other languages were the "let's go to" option as well).