It's only fair to put (semi)linear and open-world games in different categories.
Linear:
The Order 1886 - hands down the best pbr on the market; half a generation ahead of everything else I've seen. The modelling is astonishing both in terms of quality and consistency. It also has extremely advanced subsurface scattering, which it also deploys during gameplay (btw, player control aside, there is not a single difference in the graphical make-up between gameplay and cutscenes). Doesn't hurt that all the usual effects are up to a very high standard. I actually struggle to spot a single obvious visual compromise, they are all in the scope department. It's the clear winner here, but I'd also like to mention:
Quantum Break - best use of real-time GI this side of Tomorrow's Children. The passage of time scenes, rendered as you walk freely, are jaw-dropping.
Ratchet and Clank PS4 - Don't be fooled by the art, that's not merely a style over technology case. It's very advanced in almost every aspect, AA aside. Also, the temporal injection they use on Pro is better than most CK solutions.
Killzone: Shadow Fall - I probably should have put Battlefield 1 here, but the photogrametry doesn't impress me all that much. It's the easiest and laziest way to get pretty good textures, but it's a brick wall if you are striving for the best. Speaking of which, Killzone has amazing and frankly overlooked textures and materials. It also did area lights at the very beginning of the generation. It is 8 gen's Crysis and a good honorable mention.
Most consistently overrated graphics: Uncharted 4 - Sure, it's an impressive overall package, but it doesn't excell at any single aspect besides animation. In some respects it's acually quite poor (OMB, shadows, AA leaves ghosting and is among the poorer implementations of temporal AA). It also dynamically disables effects on scene by scene basis and uses the highest quality stuff only in cutscenes. Compare this to how The Order treats its cutscenes and visual make-up.
In the open-world category I'd like to throw Horizon and Arkham Knight. Unity would be here if the horrible LODs and crowds weren't there to ruin everything. Also, Witcher 3 looks laughable, as much as I love that game for other reasons.