Made a little test with UE5, HW vs SW Lumen
Hardware Lumen:
View attachment 6296
Software Lumen:
View attachment 6297
The difference is massive!
Plus, HW-Lumen runs a tiny bit faster (around 1ms)
I assume the more complex the scene, the faster HW-Lumen is going to be compared to SW-Lumen.
Good stuff!
Its hard to judge from one example, but kind of shows off the strengths and weaknesses of each aproach. HWRT can create sharper and more accurate contact shadows and reflections, but cannot do highly divergent traces as efficently as SDF tracing, thus the larger scale, more diffuse shadows are less rich on the HWRT mode.
In a perfect world, the engine would use both methods where each is best.