c++ mfc dialog window & exe plug-in

[Andy]

I have a c++ mfc dialog window, also have another media player exe
which is self developed (similar MS Media Player).
I want to plug in the 2nd exe into my dialog window and display into
my part of dialog window.

Is it possible to use the 2nd exe directly or have to compile into
dll?
if need to recompile into dll, do I have to use Visual Studio to do so
or use comand compile as well?
What's the best way to do so?
Does ActiveX is the only choice?

Any input would be very much appreciated.