Ray Tracing not working

Another graphical issue I noticed today: Ray Tracing is not working. It worked before and I am not sure since when it’s not working (haven’t tried taking a car pic in a few weeks), but in any case it’s not working now.

When I turn it on in the master graphics menu, it does something in the car design window, but still not working properly.

In the photo scene ray tracing does absolutely nothing. I can turn it on and off and play with the sliders, but there is no actual RT happening. Oh, and the disappearing gizmo issue can also be seen in this video:

Can confirm that either I suddenly don’t know how to use Ray trace, or that the newish update disabled it.