Display substrate and manufacturing method therefor, display panel, and display device

A display substrate, comprising a substrate, and a display region, an isolation region, a peripheral region, and an opening provided on the substrate, the display region surrounding the opening, the isolation region being provided between the display region and the peripheral region, the peripheral region surrounding the opening and being adjacent to the opening; the isolation region is provided with an isolation column and a first inorganic structure, the isolation column is provided on one side of the substrate, and the first inorganic structure is provided on the side of the isolation column away from the substrate; the peripheral region is provided with a structural layer, and the structural layer is provided on the substrate and comprises a first organic structure and a second inorganic structure provided in a direction perpendicular to the substrate; the first inorganic structure, the second inorganic structure, and the first organic structure are all made of an insulating material, and the first inorganic structure and the second inorganic structure are configured to encapsulate the display substrate.