A chance typo (Win/Ctrl/L) brought t my attention that Microsoft (MS) actually provides a lot of captions at a system level that will in real time like captains of any audio played. It even will transcribe buit-in access features like Narrator and Read Aloud.
I often use closed captions on youtube, however often creators don’t always enable it. So I tested it on a youtube video with no cc: enabled and indeed the Microsoft live captions displayed text of the radio perfectly.
Live captions is available in Windows 11, version 22H2 and later.