I don't think MS has any interest in improving C++ (look at their compiler). But that's not because of competing activities.
Visual C++ is the best commercial implementation of C++ compilers, better not be caught using xlc, aCC, TI, IAR, icc and plenty of other commercial offerings.
If C++ has span, span_view, modules, co-routines, core guidelines, lifetime profile static analyser, is it in large part to work started and heavily contributed by Microsoft on ISO, and their collaboration with Google.
As for competing with C++, it is quite clear, specially when comparing the actual software development landscape with the 90's, that C++ has lost the app development war.
Nowadays across all major consumer OSes it has been relegated to the drivers and low level OS services layer like visual compositor, graphics engine, GPGPU binding libraries.
Ironically, from those mainstream OSes, Microsoft is the only one that still cares to provide two UI frameworks directly callable from C++.
Which most Windows devs end up ignoring in favour of the .NET bindings, as Kenny Kerr mentions in one of his talks/blog posts.
Back to the D issue, Azure IoT makes use of C# and Rust, and there is Verona at MSR as well, so as much I would like to see them spend some effort on D, I don't see it happening.
So I doubt they would sponsor D.