Yes, this is most likely done via parallax, which is very easy to do in Unity. The Amplify Shader editor provides examples for a simple parallax effect (like the default one in Unity) and a more advanced stepped parallax. Parallax is in essence a UV offset along the normal that’s multiplied by a height map. That’s how different parts can seemingly recede further than others.
Parallax in cycles is a bit harder but has been done. This thread documented it, but seems to have been lost by the recent forum switch: https://blenderartists.org/forum/showthread.php?314083-Cycles-parallax-step-mapping-with-nodes
I’m uploading the cycles parallax blend file originally shared in that thread by Vsevolod Ochinskiy here.
DECALmachine uses the same node tree with permission.
cycles_parallax.blend (6.9 MB)
In a blender video about eevee some time towards the end of last year, it looked like parallax for eevee was on the roadmap as well.