Usually formal theories need a logical mathematical language to fully characterize it. I scanned the wikipedia of cybernetics and it's just not it.
Control theory or signals is the closest formal theory to cybernetics. The problem with this theory is that it only characterizes very specific systems that have ordinal values as inputs and outputs. What if the input is text? What if it's tuples of tree like tokens?
The closest theory that encompasses the intuition of what we think of when we use the word "systems" is category theory in my experience. And this theory is in fact sort of too general to be very useful.