First of all this is an excellent and informative post by @skysthelimit707 and I thank him for all of the in-depth step by step instructions!
My old 3.1 soundbar which I’ve been using on my sim PC died the other week so I was in need of some new speakers. It just so happens that we recently got a new Dolby ATMOS soundbar (Samsung Q800C) for our family room TV and it sounds awesome (I had inherited the old soundbar lol). Then I found this post and started to research…
I ended up purchasing an Amazon “Renewed” Dolby ATMOS soundbar on the cheap (Samsung Q700C) and applied the info above and wow what a difference! The sim does support Dolby ATMOS via the Dolby Access app as explained above and this app happens to be FREE for home theater usage (the one time fee is only with the headphones). Things just come alive with the cockpit noises, clicks, whirls, engine noises, ATC voices etc. I even hear new sounds from clicking on various menus I’d never heard/noticed before! 
The Dolby ATMOS sound benefits even go farther than just with the sim as my soundbar goes into Dolby ATMOS mode once my PC boots up and the Dolby Access app seems to take sound from any app and enhance it for Dolby ATMOS.
So if anyone is interested in enhancing their sim experience, I would recommend looking into Dolby ATMOS 3D sound. Dolby ATMOS speakers can be expensive and not all are created equal and you do need a compatible connection (I use eARC). Amazon sells a lot of Samsung’s soundbars that are renewed at a great discount (and both of mine came in what looked like the original Samsung packaging 
lol).