Windows Audio Subsystem has support for passing through multi-channel audio to an external application that handles rendering an emulation of that muti-channel stream playing through a home theater system binaurally. These applications (Windows Sonic, DTS Headphone:X, and Dolby Atmos for headphones) can be supported without having to provide true object-based surround sound. There is a configuration that allows Windows to passthrough a surround sound stream via the WASAPI Spatial Audio API to these applications (Assuming the end user owns a icense to use those applications) and have them hande spatializing the sound. I think it'd be a great idea for a future update to take advantage of this. Further documentation can be found here:
https://learn.microsoft.com/en-us/windows/win32/api/spatialaudioclient/
https://learn.microsoft.com/en-us/windows/win32/coreaudio/spatial-sound