Firesprite Game Director Stuart Tilley revealed to Wccftech that The Persistence Enhanced Quality Mode will run at dynamic 1080p@30 with ray traced effects on PlayStation 5 and Xbox Series X. Xbox Series S won’t have the Quality Mode with ray tracing, though.
Source: N4G PC The Persistence Enhanced Runs at 1080p@30 with Ray Tracing on PS5 & XSX; No RT Available on XSS