Yes and no.
I had the chance recently to talk to a dev of another game developed very similarly for PC and then ported to console (probably the most famous dinosaur game ATM).
Graphically I don't think the console version is directly holding back the PC version like a lot of people assume since the ports can be adjusted and optimized individually.
But from a development standpoint, according to that dev, for a game that is still in active development after release, the console versions very much limit what can be implemented into the game.
There is a lot of stuff that is simply not possible to implement because of the consoles overall limited memory. This actually covers a lot of QOL stuff and assets that you would never realize could be a problem to implement. And if you want to have the PC and console versions to have the same functions because of parity, you simply can't implement them, so a lot of ideas are already scrapped early in the development process because console wouldn't be able to manage them.
PS: I mean we are talking about 8GB consoles where the graphics engine already occupies 3-4Gb, which doesn't leave much room to play for the rest of the game engine. This is very different compared to a low end system with 8 GB ram and a dedicated 4GB graphics card.