I think the trouble here is the use of the words.
Simulations, by very clear and direct definition, are games that attempt to represent real-world actuality as closely as possible. Hence, a combat simulation would not involve "hit points" or "armor class". Health would be guaged by the lethality of the weapon being used resulting in a single bullet most often disabling or neutralizing a target, and the player would have to take into account things like muzzle velocity of a rifle, bullet drop, and coriolis effect over longer distances. Flight simulations do not work based on "left/right/up/down", "afterburner boost", and "waiting for missles to reload". The player is responsible for controlling individual flight surfaces, managing fuel levels, and many modern combat engagements will be won or lost before visual contact is even established.
That's what "simulation" means. Yes, it's perfectly possible for games to have only lite sim elements coupled with purely fantastical game mechanics, and most games will fall into this category. But, by the definition of the word, any game that describes itself as a "simulation" will be focused on handling things with an extreme level of practical realism.
Yes in the grand scheme of things, or simulation in this case can be referred to specific encounters, simulating a scenario, which is what the word simulation in immersive sim stands for.
And I very much think it applies to cyberpunk's level designs and encounter designs to various degrees which allows one to experiment with the game akin to as they would have in Deus Ex or all the other Immersive Sims across the board.
Yes it's not as in depth as games solely focusing on the philosophy alone, of course not, but I'd classify it as one regardless, because as a basis for their level designs and encounter designs it definitely has the Immersive Sim chops, a hundred percent.
The only way one misses it is if they're focusing on min-maxing the stats by any means necessary disregarding all the intricacies of the level design and encounter design in the process and complaining how shallow it was because you can knock someone unconscious and shoot them for double XP.
Sorry, but that doesn't invalidated everything else it achieves.