Even multithreaded games have a main thread that is cpu bound, it is very hard to parallelize many game functions not related to graphicsWell game logic are CPU bounded. Visually game still bounded by GPU.
Also games nowadays support multi-threads. You will see the different at much lower resolutions where more frames have to generate, or have many single logic objects like AIs, props...
None of that bother consoles though. If they want to achieve 60FPS they could lower individual NPCs count or use visual effects to simulate. PS5 have dedicated pipeline so why not use thay