This is already possible yes with the “Author” role provided by the v3.1.x release feature called RBAC (Role based access control). Authors will only be able to see/edit their own content
This level of control requires the EE version of the RBAC feature, or something like this you will probably want to use the user REST/GraphQL routes in your frontend as there is no limits and total customization ability of those. The Admin panel is slightly limited in control given to the CE users.