My son is now 35, so when he was growing up the games were much simpler. Consequently, we played many of the games together. Not sure I could do that today. I do believe it is important for the parent to know what games their children are playing. And if they have a working knowledge of the game, it can lead to conversations about the game. I also think screen time should be limited or controlled to an extent.
I have heard that a great many parents "ration" electronic access for their children - not without some difficulty at first but with time, there is more 1-on-1 personal interactions.