Even with potato RT, the lighting still look much better compared to raster. I noticed flat lighting (missing indirect lighting) on dynamic objects in these DF RT vs Raster comparison and RT reflections still offer vastly better results compares to that SSR + cube, a technigue used on PS4. Add to that incredibly detailed assets and this is clearly a PS5 game clearly surpassing what was possible on previous generation.
Even UE5 wouldnt make RE9 better looking.
My old robocop (UE5) screenshots from 1440p DLAA.