Hello,
While I haven’t personally used ray tracing, I believe that it works, with a few caveats. Here’s a forum thread from another user who explored ray tracing, it may be helpful to you - Problem Lighting Terrain with Ray Tracing - #5 by Colton_Neal_Smith
If you encounter other issues or nuances, please record them here! I’m not sure raytraced global illumination specifically has been tested, and what you discover could help out or inspire other users in the future.