The last time would be Final Fantasy 15, specifically when summoning.
Before that, DriveClub's weather effects.
...and before that, Killzone Shadowfall's mostly dull campaign had a few moments where I had to stop what I was doing and gape.
...and even before that, I remember wishing I could record gameplay on my PS3 whilst traveling through the gorgeous desert in Beyond.
....and before that, Child of Eden had some glorious visuals, at least in my opinion.