Armor Sets are a lot simpler (mechanically, not visually of course) in Remnant 2 than they were in Remnant: From the Ashes, and that's very likely a conscious design decision. The developers at Gunfire Games probably felt that Set Bonuses for Armor ended up 'restricting' players into always having to wear specific Sets too often and didn't incentivize individuality, so they modified the system in the sequel game.