As the title suggests, NVIDIA appears to be concentrating on further improving image quality with a new quality mode. In the UE5 (Unreal Engine 5) documentation, the new "Ultra Quality" mode appears as a placeholder. According to the notes, it is not visible to end users, implying that the mode is still in development.
Currently, the best setting available on DLSS-compatible titles is "Quality" mode, which displays the game at 66.6% native resolution (or in other words, increases the resolution 1.5 times). It is interesting to see the new mode in development, so shortly after AMD's release of FidelityFX Super Resolution, which already offers a setting that bears exactly that name. In this FSR mode, the game is rendered at 77% resolution, which could theoretically provide an advantage to FSR if both technologies were compared side by side. Unfortunately, since FSR was released, not a single game has received support for both super-resolution technologies, so a 1:1 comparison is not possible.
Also, a new version of DLSS is already present in the UE5 engine. Currently, the latest version available in games like Rainbow Six Siege or Lego Builder's Journey is DLSS 220.127.116.11. This version has been successfully imported into other games and confirmed to provide a better experience by reducing more unwanted artifacts. A new version of DLSS 18.104.22.168 is being tested and in the works, Alexander Battaglia shared a quick comparison screenshot which you can check below in the thumbnails.