I don’t know when ( or if ) it changed, but using Global Max Depth will set any and all shader’s ray depth to exactly one value, no more and no less.
So it’s not a cap or a “maximum” value. Some shaders only need 1 bounce raytracing while others need much more, refraction for example usually needs more depth than reflection does. It seems like the only time you’d use this max depth is if you didn’t care to optimize!
Mostly I just wanted people to know that Vray might be increasing their depth values, but also I wonder if anyone knows a benefit to the way it works now? And shouldn’t it just be called “Global Depth”, getting rid of the “max”?