The game deliberately includes many sound sources to facilitate this such as stepping on various surfaces, glass shards on the ground, and wildlife making noise based on player proximity.
This works amazingly well on regular, on-board PC sound chips, though headphones are quite mandatory.
(Disclaimer: not affiliated, just a fan).
Higher order ambisonics strikes a pretty good balance in terms of spatial resolution while still being a mixed signal. You can then pair it with objects for specific highlights. Atmos is a 7.1.4 static bed plus dynamic objects, so similar idea. In either case, most of these 3D sound systems support very few dynamic objects. For example, Windows Sonic only supports 15 dynamic objects on Xbox: https://docs.microsoft.com/en-us/windows/win32/coreaudio/spa...
It’s a shame because I would love more audio sources to support HRTF (head related transfer function) and “ray traced” audio.