For HEIC:
$ sudo dnf install libheif-tools
Source: https://www.reddit.com/r/Fedora/comments/14eys74/i_finally_figured_out_how_to_make_heic_thumbnails/
For RAW support:
$ sudo dnf install rawthumbnailer
This automatically had support for CR2 Canon and ORF Olympus files I have. But it was not supporting Fujifilm RAF.
Opening up /usr/share/thumbnailers/raw.thumbnailer
I could see that RAF was not included as a recognized mimetype.
Luckily, all it took was adding:
image/x-fuji-raf;
And voila, Gnome began showing thumbnails for RAF!