FSR 3.1 has improvements to the quality of upscaling, and separates frame generation from upscaling, which will allow the frame generation to be used with other types of upscaling.

The article includes a comparison between FSR 2.2 and 3.1, and the improvements are pretty significant.

FSR 3.1 will have to be implemented on a per game basis, so it will be awhile before we see it in games. Games that have announced that it’s coming in an update are: Ratchet & Clank: Rift Apart, Cyberpunk 2077, Dragon’s Dogma 2, Dying Light 2 Stay Human, Frostpunk 2, Ghost of Tsushima Director’s Cut, NARAKA: BLADEPOINT, and Warhammer 40,000: Space Marine 2.