All three major GPU manufacturers support ray tracing and variable refresh rate on Linux. When playing windows games, ray tracing has to be handled through VKD3D, which AFAIK supports most but not all DXR features. I haven’t had any problems with it though.
The one thing that can still completely make or break your (Windows games on Linux) gaming experience is anti-cheat software, since it’s up to the game developers to enable it for wine. The major anti cheat providers offer solutions for this, but not all game studios are interested in their games running on platforms other than windows. Games like valorant will probably never work. Good riddance though.