Are snapshots generated for each sub query inside a Postgres READ_COMMITTED transaction? From what I understand - in a READ_COMMITTED Postgres transaction “the transaction obtains a snapshot whenever an SQL command is executed” source. Does this mean a snapshot will be obtained for each sub query in a nested query? Does the use of CTEs in place of sub queries affect this behavior?
The snapshot 'created' is per statement regardless of whether that statement contains subqueries or not. From the documentation:

... This level is different from Read Committed in that a query in a repeatable read transaction sees a snapshot as of the start of the first non-transaction-control statement in the transaction, not as of the start of the current statement within the transaction.