I’ve never heard an implementation that sounded better than just a basic downmix to stereo that any old media player can do. Which is the other option.
And certainly not something that was better than using stereo audio to begin with. All the magic of hearing things from different directions can be fit right there, into the two stereo channels.
There are so many of these programs that claim all kinds of things, but even when they do just do HRTF based on actual surround sound signals, it’s maddening how often they just fuck it up with some bs room filter on top.
These software application come with almost every gaming headset and it’s the only context I ever see anyone use this stuff. And not once have I tried it and thought that using a headset in “plain” stereo sounded worse.