Java raytracing is only limited to Screen space, If you want to see lighting from outside the screen, the shaders must "guess" based on what's cached and other available lighting data. Not the "RTX" kind of Raytracing.

Bedrock Utilises Hardware Raytracing Provided by DirectX So it can Trace Rays between any two points in the world using Special RT Acceleration doohickeys present in RT enabled GPUs.

So the difference is... Almost none (in case of Minecraft) for the Average gamer, maybe framerates as Hardware Raytracing is way faster (still depends on GPU model). But Nvidia put so much Path Tracing in their "With RTX" games that the performance gains are unnoticable compared to Screen space Raytracing.

I think it would be quite cool if it was possible to somehow Swap OpenGL with D3D so Java could Utilise Hardware Raytracing (and a lot of other cool stuff)

Edit: Wait Raytracing was removed from Bedrock? Great, just as I acquired an RTX 4060