Just point something quickly, in my opinion:
I think Unreal 5 is an engine made for the next 10 years (I read it somewhere), so I think it’s not thought for the current gen. A different thing if that they are trying to make it ‘compatible’, but not ‘native’ for this gen. For example, a 3060 it’s a quite weak GPU for this technology and its state (I wish it could be better, running GI at 540 FPS, of course, but no). And it’s not comparable with consoles, as they are closed system, with much higher optimizations.
So, for me: the current tech is almost UE4 (or UE5, but using UE4 workflows). UE5 with Lumen is something like prototipying tech. Developers can start developing with it, but to release games after some time, when the tech if affordable for gamers, not only for devs.