I think that may be right for first person only, but many games that are largely played in third person fit the bill to me: Witcher 3, Elden Ring, Horizon, and even the latest Zelda games to an extent.
I know I’m leaving many other titles out here too, I’m just listing ones I’ve personally played.
No Man’s Sky is even close to being on the list IMO but it’s not quite RPG enough to fit in the same category.
Players are really kinda spoiled for choice when it comes to large, open world games with quasi RPG elements.
I’ve personally grown kinda sick of the genre.
There’s standouts of course (I actually think all the ones I listed are pretty excellent), but all of them require hundreds of hours to complete and I’m just sick of the same game type after a while.