I tried Unreal 5 on a GTX 1060 and just barely got 30 fps, even with 50% scaling. It still looked okay and I guess it was playable, but that is an okay system, mid-range from a few years ago. It wouldn't even open on my laptop.
I have a problem to distinguish is this a movie or a game ;) Nice artwork. Yes, it looks very good. Most of the time there is no jerkiness visible, and camera and character movements are smooth.
I like cinematic look&feel, old good 24fps. This is enough for human eyes. For such frame rate and slower shutter speeds there is always some blur. I think they used it to mimic cinematic style (together with excellent camera work, of course). But maybe there is something more, some kind of frame blending? FPS varies between ~25-46, but I can't see a difference. I'm curious how https://github.com/godotengine/godot-proposals/issues/2933 will improve look&feel. Effect based on shader for Godot 3.x is not comparable to this slight, gentle blur which you can see in UE.
I'm working on a imitation of camera lens (dof, autofocus, aperture, focal length). It adds some realism to the look&feel, something similar to shot visible between 56-61th second on your video. After that I will work on a camera system to mimic more natural movements and to support multiple cameras. There are many small things needed to achieve the final result. I hope that all of them wouldn't kill performance of Godot 4 and there will be place for game logic.