There is hidden state as plain as day merely in the fact that logits for token prediction exist. The selected token doesn't give you information about how probable other tokens were. That information, that state which is recalculated in autoregression, is hidden. It's not exposed. You can't see it in the text produced by the model.
There is plenty of state not visible when an LLM starts a sentence that only becomes somewhat visible when it completes the sentence. The LLM has a plan, if you will, for how the sentence might end, and you don't get to see an instance of that plan unless you run autoregression far enough to get those tokens.
Similarly, it has a plan for paragraphs, for whole responses, for interactive dialogues, plans that include likely responses by the user.