I'd definitely hold off for Nvidia and AMD's new graphics cards if ray tracing if your objective.
Given the often terrible performance of raytracing on modern gen cards, and the pretty limited scope of existing raytracing implementations in games (i.e. performance is poor and they're not even raytacing that much) it's likely the next gen cards will have a significant boost to raytracing performance.
What's the full spec of the rest of your system?
I'd probably avoid an FE as it doesn't have idle fan stop, and the cooler isn't as good as many third party models that cost little more. I mean I'm sure it's fine, but I'd probably to try to get something with a slightly better cooler that didn't have the large premium of that EVGA one. That said, at this point, I'd definitely wait for next gen GPUs especially if I wanted raytracing.