Also in HZD it is baked, in 6 steps i remember from the DF tech review. DS is a great looking game, better then anything else on PS4, but it does so by being quite barren for the most, leaving GPU headroom for what's there. It doesn't beat SC of what ive seen so far, in the total package.
Indirect lighting is baked for static lights, not the case for direct lightning or shadows or indirect lighting coming from dynamic light.