On Windows, the AirPods Pro maintain two connections with the PC, one using the headset protocol and the other using the better-sounding media protocol. It seems like they both work at the same time - I’ve had good experiences on video calls where somebody is streaming background music and it sounds the way it’s supposed to.

Also the noise cancelation definitely works although it’s impossible for me to objectively judge if it’s different than how it worked in the past (seems super hard to know without a blind test given how brains habituate).