It depends on your use case I’d say. I’m replacing outlook with possibly Thunderbird or just web interface when it comes to exchange. I don’t use word, instead markdown for simple documents or typst for more complex ones. Instead of PowerPoint I’ll use JavaScript/html based presentation engines and instead of excel, I don’t know yet, perhaps LibreOffice equivalent. But then again, I’m more a developer than content creator.
TL;DR when it comes to word like documents, check out typst. It requires a shift, but you might like it.
To me it sounds like what Java or .NET JIT does. I doubt it falls strictly into emulation 🤷♂️