Can I use custom video settings and still get ray tracing in live gameplay?

From what I’ve read to get the new Ray tracing option turned on outside of Forza Vista while you’re actually racing is to have it on the one of the top two presets. I have a custom one that I use that’s mostly ultra or extreme but a few things I have turned down that don’t matter to save performance. Will I still get ray tracing? Or does it have to be on a preset? I have an EVGA 3080 TI ultra FTW3