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If so, your Steam might be verifying the files and automatically reverting the inputs to default.
To prevent this, right click your Engine.ini file, select Properties and in General tab, mark Read-Only ✔. This way, it will prevent your configuration to being reset back to default.
Hope this helps!
As an RTX 4060 user, I did have the Ray Tracing support but it was only the simple reflections option and Ray-Traced Reflections, Ray-Traced Global Illumination, Ray-Traced Shadows were hidden for me. With this guide, it's bypassable on any RTX card.