The point of knobs is that you can fit a ton of sliders in a limited space, and that you can wildly adjust them with very little movement. Both are requirments for a lot of music software. What would the alternative be?
Large slider which doesn’t change place, buttons to select what you are adjusting. Display the current value on the button if you need it to stay visible.
The magic of software ux is that you can actually replace things on a screen in a way you can’t on a physical device.
There is a reason people serious about doing music keep using physical knobs to change values in their software. I’m entirely convinced the sole reason DAWs use virtual knobs despite them being such a poor UX element is because people will map them to MIDI knobs anyway and that keeps the software and physical world looking the same.
I do it all the time on an iPad. It handles up to 5 simultaneous controls very well.
Prompting the obvious question: Why eleven?
At that point I guess the physical resemblance is a virtue.
Then it takes only knob space at rest, but offers the slider affordance and high-res control when you need it.
Maybe that would work if it popped up VERY FAST. I have never gotten along with touch screen knobs.
I think the best compromise is something that's already very similar to knobs - a "draggable text field". Different software styles this element differently, but the essence is that it's a number, where you can either click and type a new value in, or hold the mouse on the field and drag it left or right to drag through the different values. You can find this in some video and 3D editors. Sometimes these elements are styled to have arrows on the sides of the numeric value to suggest the dragging behavior.
There are some music software that do this, and it looks clunky shifting between a graphic of a slider when you're moving it and a graphic of a knob when you're not.