I don't see why software couldn't do that, if you give them the context.

The end-user is unlikely to know which part of the context is relevant, and it may also change from moment to moment depending on who is speaking to whom. Of course you could imagine an AI interpreter that has cameras for situational awareness and asks for clarification if anything important is unclear while smoothing over minor stuff without interrupting, but you could equally easily imagine an AGI, so it's not clear that this could be built to a reasonable quality standard with current technology.

That seems like something LLMs could eventually get good at

They'll just push everyone to use corporate wooden language and then they won't have to worry about tone and implied meanings :)