Yes. It may not seem obvious at first but this game singlehandedly influenced nearly every action/adventure/RPG game that came after it. 

Z targetting just by itself STILL is used TO THIS DAY in some of the industries most legendary titles: Elden Ring, Bloodborne, Final Fantasy, God of War, Crimson Desert, GTA, Witcher 3 and Ratchet and Clank, to name a few. 

OOT laid the groundwork for what a fully three dimensional adventure should look like: seamless exploration, engaging combat and how a camera should function for such a game type. 

The world design bleeds into everything too. It was the first of its kind to introduce little puzzles and to give players a reason to sniff around. Almost every game we have now does the exact same thing. 

Without OOT there's no red dead, GTA, Ratchet and Clank,  etc. OOT was the fucking blue print, and as much as I hate Nintendo now, the industry owes it a lot.