I’m sure this has been done already at research level, though not in a commercial/military application - games that shock you. Take a bullet, get shocked. Crash a plane, get shocked. Sounds like stupidity aversion therapy to me, though soldiers training with it apparently experience "rapid heart rates, sweaty palms and fear" so sounds useful as a training tool ahead of exposure to actual combat.

The strange thing is they’re developing this for consumer use too. Hands up who would prefer electric shock feedback to force feedback? What, no raised hands? (Source: The Shack).