Performance mode uses a dynamic resolution at 60fps and changes LoD setings, Resolution mode runs at native 4K on PS5 and XSX, 1440p on XSS. Grass and object density is different per console (might just mean last gen and current gen consoles)
Patch (not sure if day one patch or post launch) will add Ray Tracing on PS5, Xbox Series X and PC, seems that Series S is not planned to get RT support however.
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