Open World is most of the time a case of how efficient your data streaming is rather than the graphics power. We have technologies like QuadTrees, LODs and dynamic mesh generation for at least 18 years now (and this is a whole century in computer tech). My first game was The Elder Scrolls 3 that I played with such an open world characteristic. But those games have all a major issue when there are leaks in data streaming content from HDD into memory, this is the real bottleneck a good engine has to solve and scale the content.
I remember a bunch of engines like ID Tech, which had texture issues or Bethesda's Creation Engine used for TES Skyrim, which may set the player into a dead area when streaming fails to load. However, doing this in an online MMO environment is complexity^2 depending on how their game is developed on the server side