Since it's roughly eight months out from those consoles' launches, it doesn't count as a "launch" game.
But Microsoft Flight Simulator is honestly the first true "next-gen" first-party console game in Xbox's latest era.
Part of that next-gen quality is because this game, unlike other first-party fare, has no "backwards compatibility" path to the older Xbox One family.
After a tremendous launch on PCs last year, MSFS has now emerged as a living room game with an emphasis on relaxed Pilotwings-like trips across the entire globe.
In good news, it sets a new bar for 3D rendering performance on consoles, and it stands head and shoulders above all other console games at this time.
MSFS 2020 combines Bing's world-mapping data, Azure's data-processing centers, and some fantastic rendering engine technology to open the entire Earth to unfettered flight.