No, I haven't tried with Dolphin. No reason it shouldn't work though.
The process is called localizing dependencies and it works for other programs. However, the local hardware and operating system still have to support the localized dlls. Example: DX10/11 runtime dlls WILL NOT work on XP and/or a DX9-class video card.
sigh from experience, having dlls required with the game will work, but not on a system with restrictions like no ability to install as it still requires advanced functions like loading dlls which has been blocked... i tried to the same thing and it never works as loading system based dlls dont work especially if they already exist in the system, even if they are a different version, because the system prevents running external dlls when existing ones are available....
i ran into the same issue with hacked portable version ms office, it came with system based dlls required to run on any system but it didnt work on such systems as it had antivirus that prevented dlls running or it didnt have permission to run such dlls