This was done decades ago, and reached the market in the late '90s with Aureal. They branded it as “wavetracing,” and could do several orders of reflection, occlusion, and atmospheric transformations, all with support for audio-only geometry and material designation (dampening, reflectivity, etc) for certain polygons.
All this ran on cheap (<$50) hardware, or a mostly complete software version (A2D) that consumed ~10% CPU on period gayman computers.
Needless to say, it was killed at Creative's hands, then subsided into the darkness when hardware audio as a whole was died off in the 2010s. Now, most game audio engines are in-house rush jobs by people with no audio expertise, or extremely simple middleware, and rarely even reaches the level of EAX 3.0's pre-canned single filters.
I'm not presently aware of any standard APIs or middleware that approach (no less surpass) what Aureal was doing back then.