I don’t know what the viewfinders are like in other Leicas, but the IIIg has 50 mm frame lines plus a small border of view around them. So yes, the 40 mm field of view is approximately the entire viewfinder; perhaps the 40 mm lens view is fractionally wider. But, for all intents and purposes I work on the basis that what I see is what I get and that works fine for me.
BTW, the IIIg also has corner markings indicating the 90 mm lens view.