Uhh, Insomniac managed full ray tracing in Rift Apart and Miles Morales at 1440p 60 fps. Rift Apart at launch and Miles with a patch once they optimized their engine for it. Sounds like a CDPR problem not an issue with the tech because almost all of the RTX cards be it 2000 or 3000 series are better at ray tracing performance then the PS5 is(only a 2060 would be worse) yet Insomniac accomplished this within the first year of the PS5s life.
Reality is, ray tracing like everything related to CDPR is just an unoptimized mess.