Depends on the tech. Typically they run using an engine and that engine is updated independently over time. Sometimes certain tech like DLSS can be added to the finished product without having to overhaul the entire rest of the program. But a lot of the time they just don’t or don’t really need to.
If you design you game under heavy constraints about hardware specs, then as technology evolves you don’t still loose the benefits of having the game designed to run on lower specs.
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