You can use it as some sort of virtual vJoy device. This is what the sketch is doing at the moment. It will receive messages through the COM port and update the current position of the joystick. It ...
Connect the joystick module pins to their corresponding pin holes in the arduino using the male to female wires (gnd to gnd, +5v to 5v, VRX to A0, VRY to A1, SW to 7). Connect the arduino module to ...