Variable Rate Shading not supported on this hardware.
Only used if lots of particles are on screen
vrsParticles - Render scale like effect for particles.
vrsWorldGeo - Render scale like effect for terrain, buildings and liquids.
Ray Tracing Support - DXR 1.0 / DXR 1.1.
RAIDshadowRt - Raid Raytraced shadows (0-2).
If you are above your desired framerate, everything will be shown.
Dynamic: Reduce non-essential spells shown based on framerate.
Most: Reduce non-essential spells shown by around 75%.
Half: Reduce non-essential spells shown by around 50%.
Some: Reduce non-essential spells shown by around 75%.
Essential: Only show essential spells.
If your framerate is below this number, dynamic systems will reduce graphics quality to attempt to hit this framerate.
Framerate you ideally want to play at.
Raytracing support could improve lighting in the game, while variable rate shading can improve performance by having the GPU render some less important areas on the screen at a lower quality, while still maintaining a higher quality image for areas that matter. LemonKing also pointed out some interesting new console strings. Two new Graphics Settings have been added: Target FPS and Spell Density.