Thing is you're only as strong as your weakest link. In your case the quality of your display will severely limit what you can visually get out of games regardless of their quality. Playing Cyberpunk on a proper HDR display there's a night & day difference between that and playing it on a, really even the best, monitor in SDR. That in turn then further drives up the value you'd get out of things like higher resolution and raytracing. Let that display also be a TV where the sheer size of it modifies how you can really see the world, how the field of view works, heck in something so detailed and navigable as CP2077 I even run a stretched out ultrawide resolution in the 16:9 aspect ratio just because it works so well for exploring and makes it much more like real human vision, but do that on a monitor and it'd look way worse. In fact here there's an even higher ceiling on properly "seeing the game" which could come with VR (modders are hard at work on it; it will be done in a few years esp. as we get better headsets also).
But it's really a case of seeing is believing. I used to think like you as well but one day I went back to my monitor setup (also 75hz but 21:9; amusingly that also initially served its life with a polaris card - the 480) for a few days (after having been on an HDR TV setup), and I used to think the monitor setup looked great, the TV was no big deal etc but when I actually used it again I immediately noticed all the issues I hadn't seen before, like how awful the IPS contrast really was, how off the colours were, how much I was missing by playing in SDR vs HDR. It was honestly like my vision just got worse, HDR just adds so much it's more like properly seeing the world vs seeing the world through a transparent plastic sheet (SDR). There's absolutely no going back, and even moreso after I found out how to add HDR with SpecialK to old games that never had it (and it in turn increased my enjoyment of those games even more). Of course at this point it's just not possible to go back to that, my eyes have been opened.
Once you have a proper display then you can also start noticing the more nuanced graphical improvements and therefore want them in your games, which means having the ability to turn on raytracing which will mean you want a better GPU. In the case of games like Metro Exodus the transformation of the game from pure raster to raytraced is going to hit you upside the head and amaze you, and if you add HDR to it and play in a dark room then you won't even believe that both experiences are the same game.
I don't know how it works where you are but if there's any place that showcases TVs and lets you run some HDR videos from a usb stick or youtube on those TVs I'd go and check it out like that, I think you'll understand exactly what I'm saying once you see it for yourself.
For HDR video game footage I'd recommend (to download from)
https://www.gamersyde.com/ and on youtube
https://www.youtube.com/c/PineappleExpressCW
Nice HDR demos of Cyberpunk:
Watch only in HDR.For HDR Color Grading services and rates:https://tekno3d.comWhat's HDR-X? It's Enhanced HDR10 Content, like HDR10+ or Dolby Vision.What we ...
youtu.be
Watch only in HDR.For HDR Color Grading services and rates:https://tekno3d.comWhat's HDR-X? It's Enhanced HDR10 Content, like HDR10+ or Dolby Vision.What we ...
youtu.be
Obviously this is more of a case for a better display rather than a new GPU but they honestly go hand in hand. Hard to recommend and enjoy a Ferrari if you can only use it off-road in a forest. Do not underestimate how big of a difference this makes and not only for new games but also for old ones. Otherwise yes, you could easily live with a 590 for a long time to come because outside of games that cannot be played without raytracing the power of a 590 is more or less equivalent to what they do with the Series S and so you will be (at least) at the minimum spec for the rest of the console generation.
But also don't think you need to go crazy on the GPU in order to enjoy raytracing. Even something like a 2060 has been able to handle RT quite well at 1080p, for example:
https://youtu.be/YUSVorEUVCM And so a year from now when we get a 4060 we can expect that to easily be at the level of a 3070 today, which can absolutely handle itself even at 4K (with DLSS ofc), with only the vram likely to be an obvious bottleneck (8 GB probably).