Probably. A lot of the sounds these games used definitely came from sources that were also originally some sort of FM synth. (Chrono trigger's percussive organ, for example, came from the Korg M1 and its sample was most likely recorded off an FM synth that was mimicking a Hammond organ, all of which use sine waves. That means the YM2612 should be able to reproduce the CT organ sound almost perfectly, which I personally confirmed via chipsynth MD. Most SMW and Yoshi's Island sounds were tone sounds. If you know the harmonic frequencies of those sounds, they can most definitely be reproduced by the Genesis, as demonstrated by here. The rest of the samples which most likely originated from Roland romplers, would have to be approximated
Dude, I'd loooove if you tried to port the rock and roll racing and spiderman and xmen songs by Tim Follin to the mega drive again, the official ports sounded terrible, but I know you could do better