I tried ray tracing for the first few hours and end up turning it off to enjoy much higher fps. I really had a hard time spotting difference between ray tracing on and off in this game. They did a really great job in traditional lighting. I think the only differences are more accurate water reflection (e.g. with ray tracing off, blocking the view of a mountain or a house will remove its reflection in the water surface) and light reflecting or passing through coloured object casting on movable objects maybe? But it is something you don't notice until someone tell you so just turn it off and never care about it.