No, it doesn't. Look at floating point unit for an example. In the olden times, CPUs only did integer maths in hardware. They could do floating point maths, but it was slow. Then dedicated hardware was created to do floating-point maths much faster, which was in a discrete hardware unit. These were then eventually incorporated into the CPU. Hardware support for floating point means 'having hardware dedicated to the task', and not 'being able to do the task in the existing hardware that isn't designed for it'.In the case of RT there's no hoops or any other shenigans. Everthing is donne on the GPU. There's seriously nothing complicated to understand or even argue about here. HW support means running entirely on the GPU.
The mention of hardware support for RT in PS5 means there are hardware considerations specifically for the purposes of accelerating raytracing beyond what is attainable through the existing compute workflow. And a DX12 GPU has to have hardware considerations for the same to support it in hardware, otherwise it's supporting it in software.