Not necessarily. The guidance is to split your TF code across multiple states which might feel like it make sense but for your microservices to communicate that beed to share some base infrastructure, such as networking, so where does that live? Putting dependencies in their own state means that you lose the ability to understand how changing them impacts all of your infrastructure because you have this information black hole at the boundary of their state.
With Stategraph, you'll get all the benefits and isolation of separate state files, but when you changed resources, you'll get meaningful plans around all of the infrastructure they impact, not just the statically defined boundaries of a state file.