Can't speak on how demanding the simulation is/was. But on launch Cities Skylines 2 was extremely demanding in respect of its graphics due to very poor optimisation. This PC Gamer article summarises a more technical analysis, which is linked through
https://www.pcgamer.com/a-tech-analysis-of-cities-skylines-2...
I'm the author of said technical analysis! (https://blog.paavo.me/cities-skylines-2-performance/)
But yes, at launch Cities Skylines 2 was very heavily GPU bound, due to very unoptimized meshes and a poor culling implementation. I haven't profiled it afterwards, but from what I've read they've optimized it enough that on most systems the limiting factor is now the CPU.