Crytek explained about the process that went into making of ray tracing effects in the Neon Noir demo and said that most modern GPUs have enough computational power for implementing ray tracing (to various degrees). The demo showed an AMD Vega 56 being able to easily render ray tracing effects at 1080p 30 fps with the possibility of higher framerates with reduced reflection resolutions.
https://www.notebookcheck.net/Not-just-RTX-even-the-Vega-56-can-do-ray-tracing-at-1080p-30-fps.420357.0.html