You wrote:
> Why was a CPLD chosen and why not a Microprocessor or a Microcontroller?
Because it is the most straightforward solution capable to implement the mentioned functionality.
> If I wanted to replace the CPLD with a Microcontroller,
> is that even possible to achieve the Reset sequencing and other activities using that?
Theoretically it is possible.
> what extra should I take care of and what kind of approach is needed here?
Just implement the reset sequence with timings specified in the QorIQ LS1028A/LS1018A Data Sheet, 3.7 Reset initialization timing specifications and DDR SDRAM reset as it is described in the AN5097 - Hardware and Layout Design Considerations for DDR4 SDRAM.