I am sure that many guitar players here record the MIDI then use Orange Tree (other guitar sounds libraries are available) and an Amp VST to get the sound they want.
If you are looking for a "guitar and bass tone studio" check out IK Multimedia's AmpliTube.
https://www.ikmultimedia.com/products/amplitube4/. There's a free edition (AmpliTube Custom Shop) with a few gear modules included and others that you can try. And the paid-for edition is on sale at the moment.