I played with something like this a decade ago, basically if you’re in the directional beam the sound’s like it’s coming from inside your head. Very different than listening in front of a mono speaker, and also somewhat disturbing. If you’re outside the beam you can still hear it, but it’s attenuated and more diffuse like a “normal” sound.
No ultrasonics just a really big planar speaker array.
So don’t expect perfect cancellation, do expect and embrace the disembodied spectral quality of the “inside voice”.