Short answer: Yes.
Long answer: Yes, well, obviously, as you yourself point out, since console manufacturers benefit from whatever prestige/critical acclaim their own games can get they invest plenty in the flagship games of their own consoles. Their formulaic (so to speak) franchises are very much over-studied and the risks they take are "calculated" so to speak. They can be creative and to certain degree and they'll still sell well (Not Sega tho). Not to mention they get more visibility and marketing than other games do. Most third party developers cant make that kind of investment. With the cost of manufacturing games as it is today - Again, as you yourself note - and with games like Battle Royale multiplayers being the cash grabbers they are, you gotta assume that third party developers would wanna minimize risks, costs or simply go were the money is. Creativity becomes a luxury. Ni No Kuni (ps3) a new franchise made by a 3rd party developer and an overall good game with a gorgeous art direction sold 1.5m and that was basically considered successful. Meanwhile, Fifa18 sold almost 12m only on the ps4. Yay creativity.
As far as first party developers go, I'd argue that Nintendo is the one that takes more risks creatively (clearly) but I'd also say that games like Splatoon, Pikimin and specially Arms wouldve been received very differently if done by a different developer, even if they stay the exact same games and release for the exact same console. These developers are not held to the same standards even by their core audiences - more to your point I guess. Dont quote me on this, I wont bother having this discussion.
But I do not understand what you mean with Sony and Ms- Specially Ms- The games you mention from Sony are nothing alike (and only 1 of them really qualifies as "cinematic") and arguably they have the best (at least currently) 3rd party support, which has been (arguably) extensive enough and with lots of variety. In the case of MS - My personal and completely subjective perception - is that its probably their first party games that screwed them up, isnt it? Their own franchises have had a very non-eventful, low key life this gen. Even Gears which I personally havent played but I hear Gears5 is pretty good, came and went without much noise. I imagine it sold well, but It wasnt as much of an event as it used to be. If anything MS arguably did not take enough risks this gen or didnt invest enough in marketing perhaps? I dunno. That'd be a discussion worth having. Not today tho. If you bothered to read all the way to here, heres a porn recommendation: Kiera Winters.
