Hi, I’ve been a Master Tracks user since 1995. I still have the software and use it on Windows 10. I also have Traxx version 3 on Windows 10.
To convert files, use MT or Trax in a Windows 3.11 emulator. In DOSBox, install Windows 3.11 and you’re done.
I also have Master Tracks PC which I play in DOSBox and I’ll soon install it on a 486 PC with MS-DOS