It Seems like Ray Tracing is always enabled, although it seems to be off in the ingame settings.

1.Set all graphics options to off/low in the game. (DLSS on balanced or w/e)

2.Close the game and open %appdata%\Fatshark\Darktide\user_settings.config using notepad.(C:\Users\*YOUR_USER*\AppData\Roaming\Fatshark\Darktide)

3.Make sure the following settings are set like this:

rt_checkerboard_reflections = false
rt_light_quality = false
rt_mixed_reflections = false
rt_particle_reflections_enabled = false
rt_reflections_enabled = false
rt_shadow_ray_multiplier = 0
rt_transparent_reflections_enabled = false
rtxgi_enabled = false
rtxgi_scale = 0
4.Once this is done you should notice a big FPS bump that's more inline with what you'd expect with your setup. You can tweak any settings you want ingame, just don't touch the RTX ones.

This also seems to fix the constant FPS stutter during a match.
If the config file keeps resetting, set it to read only after changing the parameters.
The Emperor protects.

Note: There was a hot fix and it's probably not needed anymore since other rtx options are now functional and few lines that don't change aren't in effect anymore with the root of rtx setting itself.