Hard for me to answer, because the only Ukrainian translation of the *FULL* text of the Bible (its Protestant version) that I've ever read is the Ohienko's translation. I read a couple of New Testament translations and Psalms done by others (notably Hryhoriy and Dianne Derkach), but it did not particularly impress me as something better than Ohienko's translation.
The publication of Metropolitan Hilarion Ohienko's Ukrainian translation was funded by the British and Foreign Bible Society which explains why the Apocrypha is not included. It is a miracle that the Bible was ever published. At one point when Metropolitan Hilarion was fleeing Volynia from the Russians he saw his 50 boxes of notes on the Bible put on a different train car and he wept for fear that his handwritten copy notes would be lost. They were for a time and then found. This event was actually put into "Ripley's Believe it or Note" in the 1950's. My grandparents cut it out and saved it.
All Metropolitan Hilarion note books and all his dictionaries are in the Church archives in Winnipeg, Manitoba, Canada.
I believe it's a very good solid Ukrainian translation, quite "palatable" for a modern Ukrainian speaker like myself. Of course, not being a scholar in Hebrew or Greek, I cannot judge about the precision of the interpretor's job.
Metropolitan Hilarion's doctorate was in Philology and his specialty was Biblical Hebrew. My family has the 1962 Annotated Version of his translation with footnotes and references to Hebrew words and also Church Slavonic words used in previous translation. His knowledge of Biblical Greek too was good, but his first love was Hebrew. He was a remarkable man who overcame problems or let us say endured difficult times and continued his work of translations. That was his forte not original theological thought. And he was a very emotional man. He loved the litrugy and edited and published the liturgical books for the Ukrianian Orthodox Church of Canada. He often quoted from memory liturgical hymns. A truly remarkable man.
However, he was a man of his times. No doubt other scholars with access to more materials that He had, will produce another version of the Bible. After all he was only one man working alone, not a committee of scholars living in peaceful times.