The main competitor used to be LoopBe1 or the built-in Microsoft GS Wavetable Synth routing (which is clunky).
Windows 11 introduced better MIDI timing, but some system processes can interfere. Try: loopmidi windows 11
Windows 11’s default MIDI timer resolution is 1ms (good enough for most). If you experience timing oddities: The main competitor used to be LoopBe1 or