I have an Oculus Rift and I don't think it would work with motorized PTZ cameras, from a human experience point of view. It would probably make you sick as the pan and tilt operations could not keep up with the person moving their head.
It could work with traditional hemispherical 360 degree cameras without making you sick, but I don't see a compelling benefit, because there would be no stereoscopic effect with a traditional camera.
With a specialized camera that can give stereoscopic views, the viewer could get a sense of perspective in the environment they are watching, though I'm still not sure this is compelling.
Rather than VR, I personally think augmented reality (AR) glasses (Microsoft Hololens, Magic Leap, Meta) will have a significant impact on the security industry. Security personnel will be able to conduct face-to-face interactions while also monitoring security information in their field of vision.
Imagine walking through a building with a miniature 3D map of the building in your field of view showing each person and security camera, with the ability to reach out and pull in the video stream; all without being blind to the outside world.