This is basically because the Elder Scrolls game design is fundamentally flawed (as much as I enjoy playing them). There is only one spatial scale, which means that an entire region of the world (e.g. Skyrim) must be contained to fit within the equivalent area of a city suburb in the real world. Because of this, the time scale must be exaggerated to compensate which is why an entire day flies by in the space of a half hour or so.
Games like Fallout and BG have the benefit of having both a world scale where time is scaled accordingly and a tactical scale where time flows in real-time. World-scale content can be sparse while the tactical scale is where the content can be denser. The game designers have the luxury of deciding which are the more interesting areas in the world and creating content to fit the areas. Less interesting areas in the world are typically unreachable and beyond the scope of the game design. This design was more than likely a result of its D&D roots.
The feeling of exploration in Skyrim and other TES games can be maintained on the world scale by showing features (mountains, towers, etc) on the map as the party travels across it, acting as a sort of magnet for the player in the same way.