Unreal Engine, the only engine I'm more familiar with, implements VBAP which is just amplitude panning when played through loudspeakers for panning of 3D moving sources. It also allows Ambisonics recordings for ambient sound which is then decoded into 7.1.

For headphone based spatialization (binaral synthesis) usually virtual Ambisonics fed into HRTF convolution is used, which is not amplitude based, specially height is encoded using spectral filtering.

So loudspeakrs -> mostly amplitude based, headphones not amplitude based.