I just tried with Git 2.30.0 (released 2020-12-28).
This is NOT a full answer but a few useful tidbits nonetheless. (Feel free to cannibalize for your own answer.)
There's a documentation link when installing Git for Windows
This link takes you here: https://github.com/git-for-windows/git/wiki/Symbolic-Links
And this is quite a longish discussion.
Also symbolic links keep popping up in the release notes. As of 2.30.0 this here is still listed as a "Known issue":
On Windows 10 before 1703, or when Developer Mode is turned off, special permissions are required when cloning repositories with symbolic links, therefore support for symbolic links is disabled by default. Use
git clone -c core.symlinks=true <URL>
to enable it, see details here.