You shot down your own point by mentioning that SEGA's IP's were on home consoles. Like asid said, they're ports handled by totally different companies. As is common Neo knowledge, the AES was not a priority for SNK, so having anything SEGA for the AES as some kind of arcade perfect home game makes no sense for them. It had to be an arcade title through and through, meant for the arcade. Why would this be an issue for SEGA? The Neo was kinda limited in terms of hardware for what SEGA was up to. Look at how many custom cabs SEGA had through the Neo's lifetime. How many drivers, light gun cabs, and other variations did SEGA have through 1990-2004? An absolute ton. How many did the Neo have? 1. By 1992, two years into the Neo's lifespan, SEGA had already developed a non JAMMA board supporting full 3D polygons, with support for what they needed: custom cabs to suit their needs. Even before 1992 SEGA had the System-32 which supported light gun cabs, driving cabs, and even oddities like the Holosseum. SEGA always made the hardware they needed for the games they made. This is evident by how many boards they have. They even went to boards with swappable carts with the ST-V and NAOMI. ST-V was released in 1994. The Neo still had 10 years to go. SEGA had no need whatsoever to support SNK's platform. No need at all.
tl:dr, SEGA supported themselves with so much hardware, even hardware that could do more than what the Neo could do. Why support SNK when you could support yourself? It is THAT far fetched.