I didn't play it that much, but I definitely think Octopath Traveler will be looked back at favorably for its "revolutionary" art style (which is just what games like Grandia tried to do but without shaders). It was pretty influential for the market, spawning many games with a similar style.
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I don't think these games will lose their status, but there are certainly more recent classics. The biggest one I can think of is probably Persona 5, although it's not exactly current.
Speaking of current games, I for one will always think of the Xenoblade trilogy as modern classics. They did come up with a unique system I'll dearly miss once it's gone (I think Monolith mentioned moving on). You could certainly throw the recent Like a Dragon games in there too, but while I would have never touched these games otherwise, their biggest quality is not being a JRPG. Yet, they stand out for their blend of JRPG and classic Like a Dragon gameplay, just like Persona 5 became a classic for it's blend of genres. Otherwise it would just be a dumbed down SMT.
Overall, modern classics are made by interesting combinations of the ground rules laid out by classics of old across different genres. Shaking up a single genre at its core gets increasingly difficult.
Some more controversial choices would be the Bravely Default series (over Octopath) and SMT V. Not because they innovate much, but because they are stellar examples of mostly pure JRPGs.
Oh, and get your pitchforks ready: Elden Ring. Inarguably both an instant classic on release and a RPG from Japan. Once again for it's genre blend.