Yes, Princess Peach Showtime Was Developed By The Mario Odyssey Team.

Princess Peach: Showtime!: All costumes & transformations - Dexerto

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Super Mario Odyssey, Not The Mario Movie, Gave Us The Best Princess Peach

Princess Peach Toadstool, The princess Wikia

The BIG Connection Between Princess Peach Showtime & Mario Odyssey

Game Peach vs Movie Peach : r/Mario

Princess Peach: Showtime trailer debuts four new transformations including Mermaid and Mighty Peach

Princess Peach - Wikipedia

Princess Peach Showtime for Switch is a fun, breezy time at the theater - Polygon

Kimono Princess Peach! Inspired by Super Mario Odyssey! : r/NintendoSwitch

Princess Peach™: Showtime! for Nintendo Switch - Nintendo Official Site

Princess-Peach - News - IMDb

Princess Peach - Super Mario Wiki, the Mario encyclopedia