Yes, iPad Pro and iPadOS 14 can achieve what you are looking to do. You appear to have both.
What I am not sure which “earbuds” are you referring to.
While you wear AirPods or ➔ compatible Beats headphones, you can share what you’re listening to with a friend who’s also wearing AirPods or compatible Beats headphones. Both sets of headphones must be paired with iPhone, iPad, or iPod touch. (On ➔ supported models; iOS 13.1, iPadOS 13.1, or later required; iOS 14.3, iPadOS 14.3, or later required for AirPods Max.)
Please review this guide published by Apple ➔ Share audio with AirPods and Beats headphones from iPad
Axel F.