On mac/iOS, you get this using the AVAudioEngine API if you set voiceProcessingEnabled to true on the input node. It corrects for audio being played from all applications on the device.
This has certainly made conference calls significantly more usable. I feel like it must have come around during 2020, because I feel like pre-covid I would go around BEGGING everyone I did calls with to get a headset, because otherwise everyone else's voice would echo back through their microphone 0.75s later. Today I recently realized I could just literally do calls out loud on my laptop mic and speaker and somehow it works. Nice to know why!