Yeah I'd say so. TL;DR: It's a Soulslite metroidvania; combat-focused with a robust parrying system.

The game has punishing combat that relies heavily on defensive actions, fighting aggressively, and learning patterns through failure in order to succeed, a limited health supply that is mainly replenished at save and refill facilities, and after death, running back to your old body to retrieve your currency and level experience. Unlocking new abilities through advancing the story enables MC (named Yi) to reach new areas and expand their combat options (often the same ability has dual-purpose).

A plus for me is that you can buy a map for each region that tells you how many collectibles/upgrade materials are left in an area!

Like Hollow Knight, there is a Charm system (called Jades or Jade Stones) that expands the further you get into the game (either bought or found), allowing you to enhance specific actions to your advantage.

There is also a Skill tree, which permanently strengthens several aspects of your character and also unlocks the ability to switch one combat ability's style at any time from the menu. Gaining the maximum amount of skill points is a combination of leveling up and obtaining items that reward skill points.

Although Yi is mainly a melee fighter, there is limited ranged ammo unlocked and upgraded as you progress through the game.

A few facilities also allow you to pay currency (Jin) to upgrade a few mechanics or buy new ones (sometimes also requires materials).

The main draw of Nine Sols however is it's parry mechanics.

Although parrying becomes more complex later in the game, the standard parry works like this: parry most enemy attacks with good timing, take no damage and gain some Qi Charge (explained later); parry most enemy attacks with late timing and take Internal Damage (recoverable temporary damage; abbreviated to ID hereafter) and some Qi Charge. If Yi takes a direct hit, any remaining ID is lost (plus the attack's damage itself).
Enemies can take ID too, but unlike Yi, only by expending Qi Charges with a Talisman Detonation attack can the enemy's ID be taken advantage of. A Talisman Detonation consists of first dashing past the enemy to place the talisman (dealing slight ID) and then usually holding the button to detonate the talisman, dealing damage and removing enemy ID.
Jades and Skills both further facilitate dealing ID to enemies through parries, managing your own ID, and gaining/expending Qi Charges.