I tested this out on the Shadowlands beta and grabbed a few quick screenshots. All-in-all a subtle but notable improvement, albeit with a predictably massive performance hit.
Core i9-9900K @4.5 GHz
32 GB DDR4-3200
RTX 2080 Ti
Do note that there’s an “Ultra High” shadow setting that currently makes some up-close non-RTX shadows unnaturally soft.