There is a working tool which shows real live traffic in MSFS with the data’s from Flightradar24: Enhanced Live Traffic » Microsoft Flight Simulator
It’s not perfect and the original ATC is not recognizing it because they are not using flightplan’s. But if you use it with pilot2ATC or the Garmin3000 there will be recognized the traffic and will warn you from the traffic near by. If you combine it wit live ATC you have the most real effect in MSFS what you can get at the moment. Look also here: Enhanced Live Traffic 3.0 released