I think the new versions of atmospheric tracks are pretty decent alternatives. Better? I can't say I compared them this way but I'd say... a bit different and fitting with the new visuals for the most part. Dunno about the licensed stuff as my only experience with classic releases was playing the first game a few years ago.
I did find a few spots over all the games I played so far where I felt like the music was lacking a bit but I'm not sure if that's just a normal experience or something exclusive to MCC/updated versions of the games. It wasn't something that affected my enjoyment too much so I just moved on and focused on the good.