My card supports Ray Tracing but does not perform very well with it being AMD and no tensor cores; I take on average a 20 fps hit with it enabled.
I’m currently on Preview 2
I tried making them invisible in details to ray tracing but had no effect. I then proceeded to change the nanite materials (not sea shells) to not receive ray tracing. That worked but the shadows seemed “off” you could say. I also didn’t receive any performance improvement which I found strange since the majority of my level is nanite.
I tried as you suggested, keeping ray traced shadows enabled in project settings and hardware off, no change, even use hardware when available, but no change.
I guess I can only wait or go Nvidia next time around. Perhaps RDNA4 AMD will have a solution down the road to ray tracing on a hardware level.