Hair is dead, even when it's on your head or a horse's head/tail. So you can treat the hair on the sporran like you would any other hair.

With that said, horse hair is much thicker than human hair, so you won't necessarily get the exact same results using human hair products.

I know that when my horses get twists and tangles in their manes and tails, the best product I've found for de-tangling and smoothing everything out is Cowboy Magic (and it's labeled for both human hair and horse hair). I've been able to get out tangles that were tighter than dreadlocks with Cowboy Magic, and it makes the hair 'slick' so it can be pulled and combed easier. I always keep some in my barn. Without it, I would have had to just cut my horses' manes or tails completely off.