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Sure, but those developments are very focused on manufacturing. Like off the top of my head, Skyrim represents it's farmers as either independent farmers who own their own land, or wage workers employed by those farmers. They travel to towns and bring their produce to the local markets, and seemingly own all of their produce. So what do the Jarls own? They're supposed to be lords, but they are really just generic governors. Similarly, it seems that anyone in Skyrim can cut down trees if they want to, they don't need logging rights to cut and sell wood.

The Witcher 3 has a much more fleshed out economy from what I've played (only about 15 hours). The farmers, from what I can tell, are mostly wage workers, but the world is very clearly an early modern setting minus gunpowder, rather than a middle ages setting.

Agriculture is a very good benchmark for examining how an economy is represented. When a medieval fantasy setting has serfs rather than proles on a farm, it's evidence that at the very least, the writer understands that different economic systems exist.

Middle Earth seems to work in its own way, which I'm happy about. The hobbits seem to be a fairly communal society, with noble families being mostly a formality. But crucially, hobbits seem to have their own understanding of productivity and economics, and thats fun and imaginative for a fantasy setting. The worst is when writers just crowbar capitalism into a feudal-inspired society because they can't imagine anything else.