RPGs (even rather forward looking ones like D:OS1&2 and Disco Elysium) tend to look back, as RPGs haven't been made since 2000s, and they are nieche titles developed on fraction of budget your average AAA release gets.
I also find it is hilarious to claim that RPGs are stuck in the past, while OP asks for the same game that has seen multiple releases per year for over 10 years now.
This is also true.
I think we can see the impact of GTA IV (2008), Minecraft (2009-11), Red Dead Redemption (2010), Skyrim (2011), Borderlands 2 (2012), GTA V (2013), and The Witcher 3 (2015) on gaming as a whole. If you look at these pages
https://en.wikipedia.org/wiki/List_of_best-selling_video_games and
https://en.wikipedia.org/wiki/List_of_best-selling_video_game_franchises all of the above titles are on it. Open or semi-open world crafting ARPG sandboxes have taken over the genre as a whole. So much so that previously successful video game franchises which were not originally open world ARPG sandboxes adapted their features, like Assassin's Creed and Halo. Even former shooter powerhouses like Call of Duty have given way to Battle Royale shooters which emphasize structures, survival, and world traversal over shooting in an arena. Even Breath of the Wild did away with most of its dungeons in exchange for more open world activity.
Even Witcher 3 (2015) is old now.
What is best graphics and engine now? UNREAL 5 engine

!!!
Well and my nickname when did I start to use it?? It is from UNREAL multiplayer time!! Well and personally I like very much Terminator 1 and 2 the first two movies made:
Terminator SOLO killed enemy team Terminator vs 3 enemy players H... , J... and B... in Unreal Tournament 2004 and my character and nickname Terminator welcome to SLAUGHTER RAAH!!! Enemy team did see Terminator and Terminator did kill them all solo... not in like 5 seconds but say less then 30 seconds killed! Well and enemy though without doubt oh only one enemy lets kill him... but Terminator was excellent player!
Later we learned from statics that best players were in Unreal Tournament 2004: Terminator, my brother and P... slightly behind the 2 best that dominated more or less and then then H..., J...and B... do not remember ranking among the 3 last, but behind very clearly the two best players. We did later change to more fair teams.. but we did not know in beginning who was best players and it is not only learning curve it is fast reactions and skill and talent and tactics in some maps!
"Both Cyberpunk 2077 and The Witcher series were developed on an in-house game engine called RED Engine. Starting with The Witcher 4, CD Projekt RED will switch to Unreal Engine 5, collaborating with Epic Games."" That is NEW INFO from December 2022 they said that!!! Nothing out there beat UNREAL 5!!! Unreal 5 excellent graphics and ok system requirements!!! It is the best graphics . Oh you still need like ok/good gaming computer yes, but excellent graphics and very done system requirements!
However I think it ok that BG3 will not have best UNREAL 5 engine. If Larian would buy now UNREAL 5 gor BG3 then this game will not be done in August 2013 and instead much later. At least BG3 is slightly better graphics then DOS2.