What a pleasant surprise. Audio to text transcription in Audacity is pretty good!
How to set this up:
OpenVINO
https://news.itsfoss.com/audacity-ai-...
Windows only for now.
The Transcription powered by Whisper.cpp can both transcribe and translate words and outputs to a label track. If you want to export these transcriptions, you can do so via File → Export Other → Export Labels.