Godfall has just launched, but at launch the DXR-powered ray traced shadows weren't available -- and now they are, but only on AMD Radeon RX 6000 series graphics cards.
The new patch has enabled ray tracing on Godfall but is restricted to the new RDNA 2-powered Radeon RX 6000 series graphics cards. NVIDIA GeForce RTX graphics card owners will have to wait, with an update in the future to bake in some ray tracing support for you.
Godfall Quick Update - 2.0.95
This quick update, 2.0.95 is just for PC and enables the ability for players to play Godfall with ray tracing on while using applicable AMD GPUs. Note: players will need to have the latest AMD GPU drivers to enable this. Ray tracing using NVIDIA GPUs will come with a future update.
Check your version number on the bottom left of the Title Screen or in the Network tab in the Settings to make sure that you have the most recent update for your platform.