Epic Games have just released Unreal Engine 4.22 Preview 1. The star feature of this new release is support for DXR, which provides real-time raytracing support on DirectX 12. You do have to jump through several hoops to enable raytracing in addition to requiring a RTX card. The preview has several other new features including Oculus Quest support, Niagra and audio engine improvements, Visual Studio 2019 support and more.
Details from the Unreal Engine blog:
Preview 1 includes support for real-time ray tracing, Editor Utility Widgets, Blueprint indexing optimizations, virtual production updates, Oculus Quest support and the Unreal Audio Engine is now on by default for new projects.
A full list of the upcoming changes to this build are available on the Unreal Engine forums. We invite you to provide feedback on Preview 1, and all subsequent releases. Please keep in mind that Preview releases are intended only to provide a sample of what is going to be released in the update and are not production-ready.
To get started with Unreal Engine 4.22 Preview 1, head to the Library section on the launcher, select “Add Versions” and choose 4.22 Preview 1.
Be sure to check the forum for a more complete list of new features.