Although without a doubt many people have tried playing Dungeons and Dragons in a MLP setting, afaik there is no complete rulebook or conversion set that allows for an immersive experience (this doesn't count: https://www.dandwiki.com/wiki/Little_Pony_(5e_Race)). We've had some longstanding campaigns on /vx/ so why don't we build a reference as a community project? It doesn't necessarily have to be set in stone but it would better establish campaigns in rules of logic. It's impossible to have OOC discussion at length in a campaign so let's do it here.
Complete 3.5 rulebook: http://choisey.free.fr/3.5/Core/Indexed%20Player%20Handbook%20v3.5.pdf
Handy 3.5 reference site: http://www.d20srd.org/index.htm
A more comprehensive reference site: https://www.d20pfsrd.com/
Homebrew content: https://www.dandwiki.com/wiki/Main_Page
"Monstrous Races" – useful if you have animals and monsters as sapient creatures like in MLP; unfortunately I don't have the book: https://www.dmsguild.com/product/230312/Monstrous-Races
What needs improving? Pretty much everything, but highest priority would be playable races and monsters, as canonically MLP is completely different from DnD in terms of sapient creatures and very different when it comes to other creatures. Amazingly entire campaigns have been played without precise knowledge of creatures' strengths and weaknesses, but setting the definitions straight will help nuance and variety.
Campaigns set outside the typical high fantasy realm of DnD, like our very own Occupied Equestria, present further uncertainty. Most guns (submachine guns were settled fairly recently, though I have no idea about LMGs/MMGs/HMGs) have already been worked out but, given it's a WW2 setting, how will vehicles function in combat? Can bits be expected to buy the same things as the recommended valuation of GP? These and any other gameplay questions can be discussed and answered here.