It might not help you much with a Volvo past '99 as even if you can read fault codes, if you need a part that requires SW, you'll still be going to the dealer anyway.
As for an ABS control unit, you wouldn't need new SW for THAT part but that's one that oddly doesn't require new SW. Most new parts, like ETM (throttle units), etc require SW too or the part doesn't function. No basic user SW program via laptop will do that as Volvo has it under their control...unless you subcribe to their costy SW service which only a busy Volvo shop would do, not a guy who just owns one or two cars.