I think the main thing Alan Wake 2 needs is the RT reflections for the quality mode. The fallback is basically non-existent and when you pass by a mirror (of which there are many in the game) it is so immersion breaking to see this messy blob in the reflection. Also, the RT reflections do make an impact in the outdoor areas in puddles of water and the link. The way this game's art is designed, the RT reflections are almost essentially for a convincing experience and missing it on the base consoles was a huge sore spot.
I wouldn't expect any of the full path tracing stuff of course as you can just look at the PC to see how taxing that is. No $700 console box can handle that at reasonable framerates. Get rid of the FSR artifacts w/PSSR, add in higher base resolutions in both perf and quality, and add in those RT reflections and we're looking at a pretty substantial upgrade.
WTF is this? Base console reflections:
PC Max: