Yes, the πρωτόκτιστος would mean the "first-created", and in this context, when the entire creation κτίσις is mentioned, it would mean that Jesus is the first, but nevertheless one among the created things, enlisted in their class as its first member. But it is written πρωτότοκος - "the first-born" - and not πρωτόκτιστος, and since τίκτω ("to give birth", "beget") here is semantically different from κτίζω ("to create"), thus also Christ's status is semantically different from the status of the entire creation. It is the same as if one has found a firsthand ink-written manuscript of Shakespeare's "Hamlet" and wrote: "I have found the ink-written manuscript of "Hamlet", the first-written of all printed "Hamlets". This sentence would clearly put the written "Hamlet" outside the class of the printed "Hamlets", for the verb "to write" is semantically different from the verb "to print". Similarly here, the "first-begotten" stands outside of the class of the "created". The immediate continuation of the sentence also excludes any possibility of putting Jesus in the class of created order, for we read that "everything, the visible and invisible is created in Him" and "through Him" (1:16), now "everything" is everything and it contains the entirety of creation, exempting from this entirety the one in whom and through whom this entirety is created. The same is said in Hebrews 1:1, saying that "through Him (the Son) God made the universe"; now, there is nothing created outside the universe and both the one who creates and the one through whom is created the universe are necessarily not enlisted with the universe, ergo, both are beyond creation/co-uncreated, ergo - co-eternal also, for time is an aspect of creation and beyond creation is only a-temporality/eternity.
πρωτόκτιστος is never applied and cannot be applied to Jesus Christ. Arians and their theological descendants Jehovah-witnesists tried to explain Proverb 8:22's ἔκτισεν with reference to God's Wisdom as God's Wisdom being created, and thus, from this passage transferring the createdness to Jesus. Yet this conjuncture of theirs does not stand criticism, but on this there is so many written. I have also written on this on this site of Biblical Hermeneutics (See question: "Does Proverbs 8:22 say that God's wisdom was the first person/thing that God created"
Does Proverbs 8:22 say that God's wisdom was the first person/thing that God created? ).