DirectStogage 1.0 was released some months ago, introducing the ability to speed up loading times by accessing assets quicker. However, other interesting features are coming with more recent versions, namely the 1.1 feature update. Microsoft stated that this version will be accessible to developers by the end of 2022, so it won't take much longer before we see games benefit from it.
Using DirectStorage 1.0, assets still have to go through the CPU to be decompressed, but that's changing with version 1.1. The new version will introduce GPU decompression, removing the CPU from the operation cycle and increasing asset loading speeds. It's also important to mention that GPUs are technically better prepared to handle parallel operations, making them more suitable for this type of operation.
Microsoft shared a screenshot comparing CPU to GPU decompression, where you can see the gains moving from 1.0 to 1.1. In the first image, we see the GPU decompression is much faster in loading the scene, reducing the total loading asset time to a third (0.8s) of the time CPU decompression needs (2.36s). Moreover, CPU usage is dramatically reduced during the loading time due to the CPU being out of the equation. Also, note that the bandwidth is almost triple, hence why the time to load was reduced to a third.
DirectStorage 1.1 will work with graphics cards supporting Shader Model 6.0, but Microsoft recommends using a DX12 Ultimate capable card for the best experience. DirectStorage games will work on Windows 10 and 11, but the latter has additional optimizations in the IO stack.
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KitGuru says: Considering the SDK will only become available by the end of the year, games benefitting from DirectStorage 1.1 should arrive in 2023.