You've only got 1 hole in each ear , so having multiple speakers next to our ears dies little to create any sense of auditory placement , our ability to judge where a sound from is down to our brains being able to judge subtle differences in the sounds bouncing off our ears.
Virtual surround calculates these subtle changes and applies a simulation to the studio you hear, so it sounds like it's coming from where it should be.
Most Surround sound headphones are just doing these calculations themselves, which is why they want an optical socket to carry the audio into the processor.
Xbox One has built in virtualised headphone surround that works with all games, just enable it in the settings. "Windows sonic"
There is also Dolby atmos , which performs the audio calculations not just around you, but above and below you also. This is a paid upgrade to enable this for the few games that currently support it. There is a 30 day trial, I think gears 4 and tomb raider work with atmos at the moment .
So in summary, you current headset will give you the surround sound you desire, but if you want to ditch that cable then there are plenty of wireless options , just don't pay extra "5.1" or "7.1" audio headphones.
There are a few officially supported headphones now that communicate directly with the Xbox, meaning no cables , adapters , dongles or power supplies
