Hey guys,
just jumping in real quick here but I am not sure if its any good to throw more wood into the fire…but then…I have nothing better to do right now XD
First off…I would like to clear a couple of myths 
- No AAA would only ship with 1 directional sun + 1 skylight.
Thats actually wrong! There are quite a lot of examples for games that go with this setup, mainly more stylized ones (Borderlands anyone?? at least for the exterior, Fortnite as well as of right now) Also quite some MMOs.
A common way is to either bake the skylight shadowing and only have the sun dynamic, to use a 2D skyocclusion texture or to use some soft large scale AO approaches (or distance field AO). All of these of course have their downsides and are only semi dynamic, but they do a very great job depending on what game you are building.
However, at a certain worldsize, baked lighting is not doable anymore and a lot of games use a dynamic sun and a IBL for faked skylighting. This way, you wont get proper color bleeding of course and it would also mean that you would get for example green grass bounce inside buildings. Thats why a lot of games use localized IBL probes to compensate for that. Those are quite painful to place and tweak and do their job rather poorly. But its better than nothing and looks actually quite good. Cryengine even supports scaling light into the negetive to darken areas because they knew they couldnt make really nice dark corners inside. And placing and tweaking that stuff sounds pure PITA^^
- So many other AAA titles are already doing it!
Thats also wrong. There is only 1 game that I know of with true FULLY dynamic everything…and thats “The Tomorrow Children” which hasnt shipped yet and its awefully quiet about that game recently. Yes there are the Ubisoft games like FarCry, Division, AC and other games. However…they “only” do this: Have a dynamic sun light and dynamic point/spotlights throughout the level. Have a representation for the sky which can adjust color etc. Then they place a grid of SH probes throughout the world that I think can also capture specularity (or they use a second set of probes for that like in Quantum Break). They then BAKE 6 or more different time of day and sunlight states into those and interpolate the whole thing over the day. Additionally for each main state, they bake out sky occlusion 2D textures and use multiscale AO techniques. Also, and this is the funky part…in the newer games from Ubi, they actually also update some of these probes dynamically in a certain radius around the player to FAKE dynamic local color bleeding (GI)
Thats also roughly how the FOX engine handles lighting…but as far as I know only in MGS5 but not in Ground Zeroes. There they only have skylighting and it looks significantly worse. The guys at Remedy go one step further with their approach which seems like one of the most complex and smart ones I have seen so far. But it needs to be seen how it performs in the end 
When I was still working on Dead Island 2, we had huge troubles with the lighting and lack of proper GI support if you cant use lightmass. We first went with directional + skylight as movable and after that we had an integration of Enlighten for UE4, then we added LPVs and then we checked out the first implementation of distance field stuff but every thing didnt work or perform well enough. It was then when we started working on our own implementation of some features that Ubisoft used in AC4. We implemented their SH probe system that took care of diffuse GI and was baked on the GPU. However, eventhough being a rather good solution, it was obviously far from perfect and I can only imagine the pain it takes to manage these systems throughout a whole game production.
All these systems work very well…but only for certain kinds of games. Its like with lightmass, which is an tool btw. But it just isnt good for every scenario.
Also regarding Enlighten…its has quite a few very annoying problems even in more recent versions. For one, the resolution of it is quite low. This means that there is no small scale shadowing like you see in some of the voxel lighting techniques or with lightmass. Also, it produces seams quite easily since its still object texture based. What happens is this, you need to either build low rez target geometry for all of your objects, or let Enlighten take care of an automatic unwrap and approximation. This happens for all static geometry. The automatic thing works not badly, but it has been proven to be quite good to still optimize and do stuff manually sometimes. This can be quite annoying. Then, the light transfer of all static geometry gets baked into these Enlighten lightmaps. You can distribute this, but it still takes quite long…mostly longer than lightmass while providing lower quality and can only be distributed via another 3rd party software that you have to license on top!
Then you can have moving lights that have color bounce and you get skyocclusion! Still pretty cool! Dynamic objects are handled via probe volumes. Those are volumes that store a 3D grid of probes for a certain area and those probes cary diffuse lighting information of that spot…so basically SHs. For reflections, Enlighten uses the Unreal Captures, however, they now support to be updated dynamically but their resolution is also lower (mhhh…actually I think this one got updated and improved just recently :D) So as of right now…Enlighten cant really handle dynamic geometry changes and how DICE is doing their stuff…no one knows
But for static levels, it can produce quite some good looking results. However I consider the workflow and lack of small scale shadowing still downsides of quite some importance for proper realism 
Cheers,
Daedalus