People who are interested in this application should check synplant[0]. It has a ML technology called "Genopatch" which gives you 2 functionality:

1. you can try to describe a sound with some tags and it will try to generate a sound to capture the feeling of these tags

2.you can feed it with a sound sample and it will try to re-synthesize the sound with its synth engine. Though the end result will usually be just a "re-imagined" version of your input sample.

My guess is the underlying model is not a "deep" model. The main benefit is that the end result is not a wave file, but a list of generated parameters that can be synthesized by the synthplant engine. And now it comes the interesting part: you can tweak these parameters to finetune the generated sound. These parameters have actual meanings (FM ratio, reverb etc.)

[0]: https://soniccharge.com/synplant