Playing custom generated audio wave data

You’ll have plenty of options in this case, just use an audio engine like OpenAL:

https://www.openal.org/

Or just use the DirectX SDK and use DirectSound, xAudio/xAudio2

can switch to in-process WASM if required.

That would be worse, considering your specifications: it can’t be done right now without an upgrade of the MSFS SDK. The feature to play sounds dynamically has been discussed here: