I think this depends on your size, but in the past I tried Underworks and Spanx compression tanks. I also tried a Spanx T-Shirt style which was excruciating on the upper arms/shoulder and went back, and back in the day my wife got me a female "shaping" tank.
My main complaint with the male-focused garments is that while they try to address the chest, the focus is equal or more for the belly. As such, you end up going down at least one waist size on your pants, but since the chest compression isn't as focused, the end result is effectively the same, the chest still sticks out as much as it did. In my experience, they do spread the tissue/fat out and appear more like pecks, but a sports bra will do the same thing depending on how you wear it (like 'just throw it on' seems to push the tissue more under your arms, but 'swoop and scoop' makes them keep the 'boob' look).
My experiences:
Female shaping tank: works fairly uniformly for chest and belly, but will have small arm holes that might really "dig in" after a while. Neckline very feminine, wouldn't wear under a white button-down shirt. Still have, but wouldn't use.
Spanx compression T-shirt: impossible to wear and excruciating if you try. Sent back.
Underworks compression tank: too tight to wear for any period of time, but probably the most 'effective'. Probably need a smaller pair of pants to use. Looks fine under a white button-down.
Spanx compression Tank: focuses too much on the belly, doesn't do as much for the chest, but I think still 'effective'. Not the most comfortable thing in the world, but I can last about half a day. I still use these for playing tennis and swimming, both activities are under a T-shirt. Looks fine under a white button-down.
If you really are only interested in the chest, or have enough chest that the male options don't do it for you, I happen to think you're right to try the sports bra route.