According to Freight before he was let go, Epics aware of this and apparently it's a lot harder to fix than it seems.
u/catblips_epic, gonna tag you with this since it has got worse since 26.30.
This happens on PS5 and Xbox Series S|X, PC and last gen consoles are unaffected. This has been an issue since November 2022, and has been getting progressively worse over the past year. As you can see in this clip it is nearly impossible to see anything in the Storm King fight... the next event for STW takes place in an all snow/fog zone, which I fear might be borderline unplayable for next-gen console players.
TL;DR, Fog on next-gen consoles has become so thick that it is almost borderline unplayable.