They are definitely not Markov Chains they may, however, be Markov Models. There's a difference between MC and MM.
MC have constant and finite context length, their state is the most recent k tuple of emitted alphabets and transition probabilities are invariant (to time and tokens emitted)
You can certainly feed k-grams one at a time to, estimate the the probability distribution over next token and use that to simulate a Markov Chain and reinitialize the LLM (drop context). In this process the LLM is just a look up table to simulate your MC.
But an LLM on its own doesn't drop context to generate, it's transition probabilities change depending on the tokens.