Yes, they do. Exceptions may apply, though maybe rarely.

My 2nd team won the Cup with a 3-0 win against a 5% worse opponent.

Motm is GK, and he saved a PK from a 120% ST while saving all 6 shots on target. First time ever I was on the receiving end of a top GK performance of this kind. AML scores and assists one each but still cannot beat the 10.0 GK rating.

Season 129 Challange! - MCs/Assistances Challenge! TRACKING THREAD-443ad37a-4550-46a0-8739-4f94d59ae46d.jpeg
Season 129 Challange! - MCs/Assistances Challenge! TRACKING THREAD-4b1883d4-84e4-448b-b59a-d4952417e629.jpeg

Really need to be in a super-manipulated league to win this event. A normally competitive league would not have any luxury of subbing off the best-performing players when a win against rival is already priceless.