The latest Final Cut Pro X release includes new features such as 360-degree VR video editing, advanced color grading tools and support for High Dynamic Range (HDR) video. iMac Pro users can even edit full-resolution 8K video using Final Cut Pro X. Apple is also extending 360-degree VR video support to Final Cut Pro companion apps, Motion and Compressor.
You can also use the build-in video converter tools to freely convert video/audio format to another format. It is a non-linear tool, which means you can place video clips in the timeline freely. You can also export your video to IG, FB and YouTube, which is powerful as a free video editor. You can also edit 4K and HD videos. For this point, not every free video editor can do.
I've been seeing a lot of attention paid to creating title effects in the applications over the past year. Apple Final Cut Pro X has added 3D title creation, which is pretty spiffy, letting you extrude 2D titles and rotate them on three axes. Corel VideoStudio in its latest version also adds 3D Titling, though not as powerful as Apple's. PowerDirector's Title Designer offers transparency, gradient color, border, blur level, and reflection in titles; Magix has impressive title templates, complete with animations. Premiere Elements offers a nifty title effect in which your video fills the text characters, and Corel recently followed suit in VideoStudio 2019. Look for an application that lets you edit titles in WYSIWYG (what you see is what you get) mode, so that you can type, format, and time it right over the video preview.
If your camera exports a spherical fisheye or dual fisheye footage, some editing softwares require you to convert your footage into equirectangular format before you can edit them. Others, like Pinnacle Studio will work with these and convert them into equirectangular format for editing. If you have a device that captures your footage by stitching multiple cameras together (ex. a device that holds 6 GoPros to capture all 360 degrees), you will still be required to use stitching software to create a 360 file, video editing and stitching software are two very different things.