Should I use this Software to cheat in games?

[Schlaubischlump]

You really shouldn't. Even if you don't care about the morals of cheating, this method is not safe for this use case !

Since iOS 15 there is a direct API to detect if the location is simulated:

/*
 * isSimulatedBySoftware
 *
 * Discussion:
 *  Set to YES if this location was detected as being generated by a software simulator, such as Xcode
 */
open var isSimulatedBySoftware: Bool { get }

For earlier versions of iOS a fake location can be detected by the CLLocation property speed, which always returns -1 if the location is simulated or the altitude of 0.

Can you circumvent these limitations?

No I can't. This is a hard limitation by the API. If you want to fake the location without leaving any trace, you need to jailbreak your device. There is no other way.

Can any other PC software simulate the location without leaving a trace?

As said bevor, the answer is no. There is no API to change the location of an iOS device from a Mac or PC without the limitations mentioned above.