For the TLDR crowd, The PC is getting the following -
-RTGI
-RTAO
-Improved universal screen-space reflections
-Ultra Plus settings i.e even higher settings available than before for rendering distance, Level of detail etc...
-4K textures with help of modder "HalkHogan" along with improved assets like grass, Foliage, Ground, Mud etc...
-Improved tessellation so small rocks, Pebbles, Cobbles etc... actually have 3 dimensional geometry.
-New clouds, Higher res
-DLSS2
-FSR2