You may be able to use "bass.dll" for something you desire.
https://www.un4seen.com/

I believe you can obtain various levels of an audio-stream. Then you just have to "visualize" it in some way.
- global-volume (used for DB output displays)
- frequency-volumes (used for EQ output displays)

DB-volume is easy to display, because even windows offers some "volume output level", in some form. The frequency-volumes are harder, because you have to do heavy "math" to detect the various frequencies on frequencies on frequencies. (waves on waves on waves), which sum-up to the singular "wave" that makes whole "volume".

The DLL allows streaming/playing and streaming/recording, in multiple formats and various qualities of play and recording.

There should still be some VB6 examples there. There are many online, in the forums.