The RT in Godfall is very memory hog. You just don't see it, because it can't be activated on a GeForce in the currenct program version. No matter how hard to try, the service library is missing in your system. As you can see in the benchmark, those are not RT shadows, the overall quality is too low.That doesn't seems to be the case with Godfall and Wolfenstein youngblood. The VRAM allocated difference between RT on and off is not very noticeable. With Godfall, you see a massive system RAM increase though. There's no RAM increase in Wolfenstein. Also, Cyberpunk requirement for RT is just a 2060 with 6GB, so I don't think RT (at least in the current form) use a massive amount of VRAM.
Godfall is working in a very special way. It uses DXR 1.1 to start the RT, and it will pass the work to Radeon Rays 4.0. But on your system the program can't do that, because the service library for the hit token is missing. So in the and you get back nothing, and every shader inside DXR will be a miss shader. It's really no point to turn on this, because the effect in it's current form is not implemented in a standard way. A standard RT shadow effect in Godfall would be too memory heavy. Your system just do some extra calculation for nothing.
The memory usage is depends on the implementation, if the lenght of the rays are minimal, than the effect won't consume a lot of memory, but otherwise it will.