You should treat ray tracing in Cyberpunk 2077 as a wee treat for spending a fortune on a new graphics card, because the sad truth for a great many PC gamers is that you should absolutely not be turning on ray tracing in Cyberpunk 2077. Yes, even if your graphics card is technically capable. And yes, I'm looking at you AMD cards over there in the corner. I know your ray tracing chops have been improved in recent times, but an RX 6800 XT is now the minimum recommended GPU for the lowest RT setting in the game.
That's maybe a little unfair on the RX 6800 XT, as you can bat at around 60 fps at 1440p on the RT Medium preset and an RX 6700 XT will offer the same on RT Low at 1440p, both with XeSS Balanced enabled.
But, while the different RT settings may give you a modicum of ray traced lighting in the game, it comes at the expense of other settings, which are then knocked down.