If you only need a few emails, you can open the PST file in Outlook and drag individual messages to your desktop to convert PST to MSG  files. However, this isn't practical for large PST files containing hundreds or thousands of emails.

For bulk extraction, I used Advik PST Converter. It allows you to load a PST file and export all emails directly to MSG format in one go. The software preserves attachments, sender/recipient details, timestamps, and folder structure during the conversion process. It also works with large PST files and saves a lot of time compared to manual methods.