Quixel is a company that sells textures and other assets (similar to the way games like Battlefront are able to achieve almost photo-realistic visuals). That’s amazing work for the present, but the future is obviously going to look even better.
Rebirth is a short film made by Quixel that shows where we’re at in 2019. It’s “a real-time cinematic” running in Unreal Engine 4, and while it’s just an animation and not something playable, it is using technology that games today are using, so playing something looking like this might not be that far off into the future.
If you think the landscape looks like Iceland, that’s because it is, in a roundabout kinda way. The natural environment here is comprised of enormous scans of actual Icelandic terrain.