Indirectly in a semi-direct way, yes, in my experience but not as a substitute for the thing that you do.
It covers a lot of attributes for many things that your sport may involve.
I sprint, not currently though, and swings, modified for volume, go nicely with prep for sprinting and an easy day as a light strength training day at an appropriate time depending on where I'm at in a training cycle.
I'm old....I sprint competitively in my age group, 55-60. All my competitors are experienced sprint athletes....so I say that as sprinting can mean many things. There is a carry over to high level athletics in one old guy!
In general, it's light on cns where cns input is high with sprints. And specifically, although this is only down to my musings and anecdotal observations, the one arm mechanics and its role in training anti-rotational upper body circuitry.
It's a sort of basic easy sprint drill in a sense.
Sprinting is max push and pulling with horizontal force production. Swings are a sort of proxy.
Good for hamstring bomb proofing too.
So yeah actual sprinting has got me where I am but swings were a big part in preparation and continue to be part of my regime.
There are a lot of studies on barbell, max strength and sprint transfer. Very little on kbs.
It's never just one thing....I have better movement quality now too. Overall, I do think the one arm swing is the thing that transfer so well....dynamic anti-rotation opposite arm opposite hip under load at speed supplied with horizontal force.
Now I don't know if there is an exercise that mirrors that movement, other than actual sprinting and many variants of sprint drills.
Again, why I think it as a specific strength drill within its generalist application.
The swing is good for many physical attributes but the one arm variant is the one closer to sprinting than the others.
I don't have heavier than 32 but I have milked it over some years now. It's a good precursor to developing the postural strength for sprinting which is more on the (sprint) endurance end rather than power output. If you lose power transfer it's game over. That's the benefit....maintaining postural strength for power transfer.
Maybe many other reasons too.