I saw this on the Xbox Series X subreddit(https://www.reddit.com/r/XboxSeriesX/comments/i4hf96/the_medium_ray_tracing_feature_is_missing/), an user said that the feature was missing from the game page on the XBOX site and as I have nothing better to do, I did a quick research and it seems that it's legit.
This change was made between May 31st and July 24th.
The Medium page on May 31th, seeing through Wayback machine(https://web.archive.org/web/20200531013509/https://www.xbox.com/en-US/games/the-medium):
The Medium page today(https://www.xbox.com/en-US/games/the-medium):
The game's official website and steam page still states the presence of ray-tracing, the latter with the requiriment of a RTX graphic card of course, so this could be a mistake (that's why I tagged as a rumor), but it is not impossible that they cut the feature on consoles due to optimization, so let's wait for clarification.
This change was made between May 31st and July 24th.
The Medium page on May 31th, seeing through Wayback machine(https://web.archive.org/web/20200531013509/https://www.xbox.com/en-US/games/the-medium):
The Medium page today(https://www.xbox.com/en-US/games/the-medium):
The game's official website and steam page still states the presence of ray-tracing, the latter with the requiriment of a RTX graphic card of course, so this could be a mistake (that's why I tagged as a rumor), but it is not impossible that they cut the feature on consoles due to optimization, so let's wait for clarification.