Let's not forget that the current Nvidia Shield uses the same specs as the switch outside of 4 gb of ram for switch and 3gb of ram for the Shield. The current switch revision and the lite uses the Tegra X1+ chipset. The Shield uses the same chipset but can utilize DLSS 2.0, Dolby Atmos sound, and HDR.
I would leave it to Nvidia to figure out how to have get ray-tracing features to work on a handheld device. They created a device as small as a raspberry pi that has tensor cores. Look up the Nvidia JETSON XAVIER NX, I wouldn't be surprised if the next switch had full on ray-tracing abilities. Would the future handheld ray tracing abilities be as good as a ps5 or series x probably not but it could potentially handle the ray tracing abilities to a smaller degree.
We probably see a big leap between the switch and switch 2 as arm architecture continues to mature.