https://wccftech.com/godfall-ray-tracing-now-enabled-on-pc-but-only-on-amd-gpus-nvidia-getting-it-later/

We were quite disappointed to learn that the Godfall ray tracing effects, specifically pertaining to ray traced shadows, weren't available at the game's launch. Developed in partnership with AMD with Microsoft's DirectX12 Ultimate/DirectX Ray Tracing, they would have been a first look at how the AMD Radeon RX 6000 Series graphics cards handle ray tracing.

That day has now arrived, as the developers have just released a new update that specifically enables Godfall ray tracing on PC. However, it only does so on AMD GPUs, so owners of an NVIDIA RTX GPU will have to wait for a future update to try and play Godfall with ray tracing enabled.