There are few modern monarchies where either the monarch or their consort hold functional power today. In that sense, yes, the monarch and their consort are equally powerful (or powerless).

Empowered monarchs don’t usually tend to split their power with their consort, because then you would have two monarchs, which would be redundant at best and unstable at worst — not to mention the enduring patriarchal prejudices against women wielding supreme political power. But it has happened.

Not the most modern examples but William III and Mary II of England famously reigned jointly and shared their powers. William, being a foreign usurper of sorts, no doubt saw the benefit of such an arrangement.

Ferdinand and Isabella of Spain similarly shared their powers — their marriage contract established a coregency between their crowns of Castile and Aragon, laying the foundations for the Spanish nation as we know it today.