I doubt it's purely RTX. Seems more like Lumen has support for hardware (DirectX Raytracing) and software. Software will work on older GPUs, but won't have the accuracy of hardware reflections and is apparently limited in some ways. From the UE5 pages:
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Lumen Ray Tracing
Lumen provides two methods of ray tracing the scene: Software Ray Tracing and Hardware Ray Tracing.
- Software Ray Tracing uses Mesh Distance Fields to operate on the widest range of hardware and platforms but is limited in the types of geometry, materials, and workflows it can effectively use.
- Hardware Ray Tracing supports a larger range of geometry types for high quality by tracing against triangles and to evaluate lighting at the ray hit instead of the lower quality Surface Cache. It requires supported video cards and systems to operate.
Software Ray Tracing is the only performant option in scenes with many overlapping instances, while Hardware Ray Tracing is the only way to achieve high quality mirror reflections on surfaces.
Software Ray Tracing
Lumen uses Software Ray Tracing against Signed Distance Fields by default. This tracing representation is supported on any hardware supporting Shader Model 5 (SM5), and only requires that
Generate Mesh Distance FIelds be enabled in the Project Settings.
The renderer merges Mesh Distance Fields into a Global Distance Field to accelerate tracing. By default, Lumen traces against each mesh's distance field for the first two meters for accuracy, and the merged Global Distance Field for the rest of each ray.
Projects with extreme overlapping instances can control the method Lumen uses with the project setting
Software Ray Tracing Mode. Lumen provides two options to choose from:
- Detail Tracing is the default method and involves tracing against the individual mesh's signed distance field for the highest quality. The first two meters are used for accuracy and the Global Distance Field for the rest of each ray.
- Global Tracing only traces against the Global Distance Field for each ray for the fastest traces.
Mesh Distance Fields are streamed in and out based on distance as the camera moves through the world. They are packed into a single atlas to allow ray tracing.
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Of course, there's the question of how much better the hardware vs. software methods look in actual practice. There are many instances where RT reflections, shadows, and lighting compared to non-RT variants only look a bit better and are not worth the performance hit. But then, I can say the same about ultra quality textures vs. high quality textures, and a bunch of other graphics effects as well. I'm frequently amazed at how good modern games look even at "medium" quality settings.