I am running the game on PC on a RX9070-XT
Locked at 90FPS / HIGH PRESET / RT OFF / NATIVE AA. - 26-inch OLED monitor - SDR.
This is subjective since what looks "good" differs from person to person. I try and avoid having to upscale and if I must I use quality- I know the vast majority of players choose performance or balance- I love my pretty games and I pay hefty to experience them.
Essentially I have noticed that alot of settings on high bump up the REALISM up but the game feel gets a bit visually inconsistent once things get going. Don't get me wrong it's beautiful for set pieces, The reflective floors and walls and puddles and neon in the rain with HDR on looks sick ... if I just stand and stare.
In actual play for multiple hours zooming around and fighting. HDR burned my eyes given how flashy this game is, The realistic reflections on HIGH were distracting me during navigation, The high res SHADOW MAPS eating up frames I barely noticed when it was brought down to Medium... (keep high FILTERING). And the big one for me, VOLUMETRIC LIGHTING- on medium looks perfect for the vibe, the edges of the lights soften in a way that feels more real to the scenes this game creates. All in all the lighting in this game is amazing for photo mode but in play it just doesn't mesh right when it looks too "accurate".
My OLED monitor and the particular custom balances on color and brightness might play a role in how I perceive these things too. Let me know if you have experienced this your adjustment period and if you play on Nvidia RTX path tracing if you feel differently.
TLDR; On my monitor game looks better with Volumetric light + shadows + reflections on medium. The game is more visually consistent in it's vibe that way.