Best answer: Despite an early technical preview of the Xbox Series X showcasing Minecraft with ray tracing, there's simply no confirmation when or even if Minecraft is going to receive a next-gen upgrade for the Xbox Series X|S. It stands to reason that it'll happen at some point in the future, but additional work will be needed. Xbox Series X|S handle ray tracing differently than Minecraft with RTX on Windows 10.
Full story from the WindowsCentral blog...