On the topic of what Xbox should do around launch without a big exclusive, my original thought when advocating for a delay on Halo was they should just write a check to CDPR to get Cyberpunk on Game Pass. I've come to realise that's fairly unrealistic though.
What they could do, is pay CDPR to finish the next-gen version of Cyberpunk sooner for Xbox, futher their sponsorship deal and make another exclusive bundle with the next-gen version and Xbox Series X a few months after launch.
As much as I hate this in general, they could even 'moneyhat' the next-gen version for a year of exclusivity. Especially since it'll no doubt look a whole lot better on next-gen. PS5 owners will still get the game through backwards compatibility anyway, so it wouldn't be that bad.
That would also help with the narrative of displaying the extra power of Series X, with a game that should look worlds better on the system.