Apple would be starting out from square one. We haven't really seen this uptick of game development on their M series chips either. Maybe that changes with an Apple TV Pro and an expansion of Apple Arcade.
I think people ignore how high the barriers of entry are here. Microsoft failed not because they didn't try, but because this shit is hard.
You might see something out of china from Tencent, but I think that would struggle to gain traction globally. Hell, it might struggle in China too, since they're so heavy into PC and I don't think you'd get any western support for it.
Microsoft really should have tried partnering with Sega and Samsung over the years.
The one thing I'll say is that as a media player, Apple TV is so much better than PS5 and it isn't even close. So, I do think that could play to Apple's advantage on top of if they can get people to make games for it and have those games work on laptops and phones.