I couldn't find a method in web3.py to decode contract creation transactions. Instead, you can use web3-input-decoder to do it. The following example from the project's GitHub page shows how to decode a normal transaction and a contract creation transaction.
import json
import urllib.request
from web3_input_decoder import decode_constructor, decode_function
f = urllib.request.urlopen("https://api.etherscan.io/api?module=contract&action=getabi&address=0xdac17f958d2ee523a2206206994597c13d831ec7")
TETHER_ABI = json.loads(json.load(f)["result"])
decode_function(
TETHER_ABI, "0xa9059cbb000000000000000000000000f050227be1a7ce587aa83d5013f900dbc3be0611000000000000000000000000000000000000000000000000000000000ecdd350",
)
decode_constructor(
TETHER_ABI, "000000000000000000000000000000000000000000000000000000174876e800000000000000000000000000000000000000000000000000000000000000008000000000000000000000000000000000000000000000000000000000000000c00000000000000000000000000000000000000000000000000000000000000006000000000000000000000000000000000000000000000000000000000000000a546574686572205553440000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000045553445400000000000000000000000000000000000000000000000000000000"
)