Not theoretically, with [OpenGrok](https://opengrok.github.io/OpenGrok/) you can register all of your git repositories and then search for the dependency declaration of your library across the entire company's source code, and then with that list you can use a simple bash script to autogenerate the git diffs to switch to the appropriate security patch for whichever minor version of the library they're using.

You can also use this exact same approach to create tasks on teams to upgrade their library if you've EOLed the version they're using. You can be as narrow (requiring everyone on the latest version) or as broad (having a band of versions allowed, in case the change is significant enough to require updates to how it is used, or if there's a major component of the system using an older version for performance-regression reasons you're still addressing on the improved library) as you want.

This actually simplifies your build system, as you can reuse the same standard open source tools that come along with your language of choice, which often assume they're running at the root of the project and can do what they want to the surrounding directory structure, and build-n-test cycles take mere minutes instead of hours, being isolated to only the component you're working with (and in the case of a library update across project, parallelized due to this isolation across build servers, so still much faster than the monorepo approach).

This also makes the codebase healthier, in general. Libraries and services need to be designed to actually have a clear purpose and interface; they can't cheat by grabbing source files from each other while breaking the expected interface, so refactoring their internals has a near zero probability of causing downstream issues. Services can be rewritten by standing up a parallel service, shadowing traffic, and validating equal responses between them. You can also fork and repurpose service code for another project and know exactly what code is required by it immediately.

These things are possible in monorepos, but they require a very high degree of diligence, and even moreso in a mixed-language environment.

In general, breaking everything into a separate repository is madness (see the modern Node.js ecosystem), so new services should start out as "mini-monorepos" where everything new they need that isn't already an available library should be contained within the service. Once a few services seem to be doing the same sort of thing, then you look at the commonalities between their implementations, learn from past mistakes (that we all make), and make the library to share between them, and allow future services to not have to reimplement that.

(This also has the advantage of making it easier to open source said library, since it would contain zero references to proprietary services, and requires no cleaning of the git history, and to get services to use your library, you already need to document it clearly.)

Frankly, the world Google is in with their monorepo is an amazing feat of engineering built upon the initial tools they had available ~15 years ago, but it really isn't an ideal situation, and there are better, more flexible ways of doing things now. I'd be sad if our industry hadn't improved this over such a period of time.