I could see this being valuable eventually, but I generally dislike when games do cycles for the sake of cycles (or just for the aesthetic).
I'll go more in depth on what I mean by that.
There are games that employ day/night or seasonal cycles as a part of gameplay. Certain plants, or enemies, or collectibles are only available in a certain phase of the cycle. Some examples of games that do this reasonably well:
Witcher 3 (certain mobs only around at specific times of day, or quests only available at specific times of day to control ambience)
Ocarina of Time: Certain collectibles only available at day/night.
Don't Starve: Your gameplay experience entirely revolves around day/night as a gathering/survival cycle.
Oracle of Seasons/Ages (Old GBC games): Seasons or Time periods are a core part of puzzle solving.
The Overworld could certainly include seasons (because they are pretty), but I think including compelling systems that accompany the prettiness is what actually makes people care about things like seasons or day/night. Having certain small side areas only accessible in certain seasons, a small chance to capture a seasonally skinned Illuvial or certain plants that are available seasonally (this last one is dubious in a game like Illuvium IMO).
At any rate, it could be super cool, and aesthetically it would be pretty nice, but I'd hope that some part of gameplay changed to make people actually care about seasons. I don't think the aesthetic differences are compelling enough to justify the development time, in my mind.