I'm trying to illustrate a point indicatively rather than get into specifics games currently use a variety of techniques in both real time and design time to build shadows and indirect lighting, etc. a lot of which, other than direct shadows, are still purely static or use very approximate voxel/probe techniques even in today's engines while a hybrid system could generate new ones over a few frames in response to light changes (but wouldn't take into account dynamic scene objects) to give the impression of a more dynamic system without going to the full load of ray tracing.
Trying to be very general here as it is too easy to get bogged down in specifics and different engines doing things differently again like Cryengine, etc.