Kernel anticheat also doesn’t work, Valorant is full of cheaters, and Apex Legends players had their game remotely hacked installing cheat software mid tournament match. And an increasing number of cheats bypass the computer/console all together, and replace inputs to the computer to allow macros or aim-botting. Recently a monitor was announced for league of legends that will track enemy players movement and location for you from the video feed alone.
The best way to prevent cheating are with good server side anticheat. Another possibility is that companies can offer secure computers through a live streaming service like Geforce Now, which would be more secure than kernel anticheat without any of the privacy issues.