High end AMD graphics cards can run the PC version's path-tracing, I understand, so I would say that it would not be possible on the PS5 Pro without some serious downgrades to other aspects of the graphics pipeline as well as framerate / resolution. Also, path-tracing requires a lot of memory and the Pro only has 16 GB of unified system RAM.
The Pro is just a slightly enhanced PS5 at the end of the day with no increase in the amount of RAM and no upgrade to the CPU, both of which would have made it a better alternative to a mid-range PC in my opinion. It would also have cost a lot more though.