I haven’t found the enemies to be bullet spongey in Elden Ring either as long as you’re sufficiently levelling and upgrading your weapons so I’m not sure I know what you mean.
But in Sekiro you don’t really damage health but rather build a stance meter, which once you fill all the way allow you to deal a death blow, but if you stop attacking or deflecting for more than a moment the meter starts to go back down. You can do health damage but it doesn’t usually make sense to do so.