A lot of current games use ray tracing as an addition to classical rasterization but NVIDIA Racer X[1] is a new tech demo/game that doesn't use any pre-baking. It's not a "real game" released by a game studio but it proves hardware is strong enough for completely simulated lighting if utilized correctly.
[1] https://www.youtube.com/watch?v=GBYs4y1BtGg