Yeah - the actual “meat” of games of this scale, I guess most of that is video and texture images or similar
Yeah 3D models and all their LODs, textures with all their layers, (one surface could have half a dozen layers used to render it), the myriad audio and music files. Games can be really humungous orchestrations these days.
The required storage is listed on the steam store page, Cyberpunk for instance requires 70 GB free.