Spatialization plugins not good enough for direction cues?

In my project it’s really important for the user to know the direction of the sound source. I have been experimenting with the spatial audio template from the store but all available maps (native, oculus, resonance, steam) produce bad results. Meaning it’s difficult to even distinguish between sound sources above vs below with closed eyes. Shouldn’t a decent guess of the direction be possible with binaural and a stereo headset?
For comparison the dolby binaural demo like here:

works very well for direction guesses with headphones and closed eyes. Are the existing plugins not good enough for this or should this work? If they allow this are there possible better working example projects than the spatial audio template from epic?

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