If you subscribe to Apple Music, you can listen to select songs in Spatial Audio with Dolby Atmos. Learn which devices support Dolby Atmos, how to change settings for Dolby Atmos, and find answers to common questions so you can start listening.
support.apple.com
That article seems pretty straightforward to me.
As I read things - any device that is capable of installing iOS/iPadOS 14.6 can play Atmos.
Next in that article come specifics for the available settings for Atmos: Automatic, Always On, and Turn Dolby Atmos Off:
For Automatic... your iPad is not on the list, but if you use any of the headphones on the list, it will work.
For Always On... the text mentions only "if you want to use other headphones..." There's no mention of whether the speakers in iPhones or iPads will play it satisfactorily.
So, it's time to experiment (you know how to experiment, right?)...
I have a a first-generation iPad Pro 12.9". It is not on the list for Automatic.
I enabled "Always On" - I got a popup notification:
I then went to the Music app, located the Made for Spatial Audio playlist, which starts with a demo presented by Zane Lowe.
There is a perceptible difference on that first-generation iPad Pro's speakers between standard stereo and Atmos. There is a more noticeable difference when listening on my first-generation AirPods, which is not surprising since by their nature headphones always emphasize stereo effects.
So have at it. Nothing will break, melt, or explode. You'll either notice the effect or not, you'll either like it or not.