It's important to take in to consideration the target platform, which is a PS4. The textures are identical no matter the platform. The lighting and shadows are perfectly fine for a last gen game. Things like the npc's that have the player character model are a bit difficult to judge, since you aren't supposed to look at them up close, and they never show up in cutscenes or something like that. But the model quality for enemies and other creatures is pretty high.
The geometric density, depends on the area, but there are next gen games with worse geometric density on things like rocks:
All in all, the real question is, is this game engine and graphics bad? And if it is, what techniques is it using for a last gen game that are inadequate compared to other PS4 games? Is elden ring really carried by just the art style as people say?