Unless we're talking running x86/x64 binaries on ARM or something, WOW64 is not an emulator, since x86_64 chips support IA32 instructions natively. There is some small overhead from filesystem and registry path translation, as well as switching the processor into/out of 32-bit mode.

There is, in fact, a new sound recorder app on W11: https://www.pcmag.com/news/first-look-windows-11s-new-sound-....