Having read the  that Reallusion will discontinue the Iray render plug-in as of June 15th 2023.  and Instead, use NVIDIA Omniverse™  Up to now I have not done anything with Omniverse.
However when I meticulously followed the install and setup instructions, it didn't work. All I got was an "RTX LOADING" message in omniverse creator. Some research found that this is a known issue relating to incompatibility with certain Nvidia driver updates requiring a hit and miss approach of finding what version of driver might work, and  or yanking out GPU boards with multi board configurations, in an effort to  jury-rig a stable and functioning  system to run a plugin.
No one seems to have a definitive solution to this, and from what little i been able to find out, I might have to remove a  very expensive Quadro GPU and replace it with another expensive GPU that might also not work.
I have neither the time to dedicate to a problem that's not mine to solve (If you offer me a product, I  shouldn't have to fault diagnose it,  or have to spend  hundreds if not thousands, on top of the thousands already spend on a system that works perfectly without omniverse, to get it to work)