Lightbaking, raytracing or both for Archviz still images?

I’m researching UE4 for ArchViz high resolution static image production, and have just installed UE4.24.1

There is an option for an archviz setup (nice!) and also an option to enable raytracing (possibly nice).

However, here is my confusion: should I still be concerned with lightmaps etc, or can this all be ignored if I simply enable ‘raytracing’ at the start of a project?

Which aspects use raytracing - lights? Reflections? Both? All of them or just selected ones?

UE4 is great, but these are the sorts of fundamentals that we need to get right before proceeding. Google (and this forum) is only so much use in trying to find simple, clear advice.

First off, if you want to use ray tracing you need to have supported hardware, an Nvidia RTX graphics card.
If you have that then you can use ray tracing

Ray tracing removes the need to use lightmaps, it renders the lighting for each frame so the lighting is fully dynamic. Ray tracing has the option to turn off features so there’s some ways to pick which things you want, so if you want baked lighting (lightmaps) but you want raytraced reflections you can do that. But, ray tracing does support lighting and reflections. The main things you’re going to be interested in is reflections and global illumination (GI). GI does the lighting bounces and it can slow rendering down quite a bit so it’s something you can disable if you want better performance though you won’t get dynamic GI.

Hi, if I’m making a static image I normaly use only ray tracing (no light baking/no lightmaps), but for videos I’ve found the RTGI to be inconsistent across frames, genrating some noise. I use baked lights (luoshuangs gpu lightmass) and RT reflections for movies, it also renders much faster than RTGI.
The new archviz example project from epic is very good to learn about raytracing.