Yes, there is a way out, at least partially. I've also grown tired of the use of the word "spying" because the user agreements for the various services and the OS itself make very clear what they collect of a personal nature and how it can be shared.
First, though, you need to understand that there is a difference between the Cortana Service (what one might think of as your friendly electronic personal assistant) and the Cortana process, which is used as part of the Windows 10 Search Function. You will always have a Cortana process running, but it's the Cortana and Search Settings, along with Speech, Inking, & Typing that control the Cortana Service and the majority of personal data collection.. Make your Cortana and Search Settings look like this (and if you prefer turn off Device Search history, though this is local):
If you've been using the Cortana Service make sure to follow the link, "Manage what Cortana knows about me in the cloud," if you wish to clear the information held by Microsoft.
Then, go to Privacy settings, paying particular attention to the Speech, Inking & Typing settings, ensuring that "Get to know me" is not on. If you wish follow the link, "Go to Bing and manage personal information on all devices." You should go through each and every setting related to privacy to make sure things are set on or off as you want them to be.
Delete all accounts from the Windows 10 Mail App. If you have OneDrive active then reset its settings so that it doesn't automatically start with Windows. If you are using any of the Services listed in the Microsoft Services Agreement you'll need to cease using those, too, if you want to restrict what Microsoft can collect as much as possible.
Most of the personal data collection related to Windows 10 is directly connected to the use of the services listed in the Microsoft Services Agreement. If you consider the collection of system information and performance of your hardware and peripherals to be unacceptable then you'll need to find something other than Windows, and even other OSes employ this sort of telemetry, but not as much of it as Windows 10 currently does.