BF5 and RX6700XT RayTracing issue

Running game normal, everything works except RayTracing, for some reason when enabled (DX12, RT On and whatever RT level), reflections are just mirrors without any reflection... however, one can feel RT performance hit on system.

I've heard that there were few people having this problem, but sadly didn't find anywhere solution. Hope someone will help me here.

Running BF5 on
AMD R5 3600
AMD RX6700XT
2x 8GB DDR4 3200MHz

NVMe drive

Thanks