100% ray traced.
This is a 25 year old game rendered by a low level API with a $1300 graphics card which has ray tracing as a main selling point... and they can't get playable framerates at 4K. Less than 60FPS in 1440p. This is the issue with ray tracing, even with path tracing to maximize efficiency one GPU simply isn't enough. They'd need probably four of them for this kind of perfomrance in anything less than ten years old, and if memory serves PCIE 3.0 can't even handle that. And this is why RTX is not a concern for this generation of GPU's.