The thinking on this relationship appears to be mixed. Coggan/Allen point out that even in a dead sprint, you’re not generating anywhere near the force of a deadlift or a squat. This makes sense, as in cycling you’re sprinting at upwards of 100 “reps” per minute, while any strength exercise will be far slower. But a less direct relationship may well exist, in terms of improved muscle recruitment or activation, or fatigue resistance so you can still go to the well after a few hours of riding.
To your specific question, I added more strength training this year, which required me to pare back from a mid-volume to a low-volume cycling plan. I have seen no reduction in FTP as a result of the lower cycling-specific volume, and have seen more general improvements associated with being more capable generally. So while no direct improvement specifically to cycling, I can’t point to any downsides either. At least in my individual case.