A general question,
I have the above card, would you still recommend to turn off hardware accelerated ray tracing and ray-traced sun and shadows, or is it safe to turn everything on?
@Captain_Awesome , leave it on, but also make sure that DLSS is enabled as that pretty much counteracts the extra performance requirements. Raytracing without DLSS is generally not really a thing in most games/3D applications for example, so if you have it on, you should be good to go! 
Thanks Demian,
I do sometimes experience application crash when ray trace is on, I have the latest nVidia Game Ready Drivers installed, seems to be performing better than the Studio drivers and was wondering why on such a well spec card and how the ray trace setting affect the output quality.