The challenge is not the visualization, but writing the Navier-Stokes solver. That's because not only is that one difficult equation to solve to begin with, but you are now also using a domain that changes with time and, on top, how exactly it changes (i.e., how the ellipse falls) depends on the details of the flow.
The area of scientific computing that deals with this is called "fluid-structure interaction". For your particular case, the typical method people use is called the "immersed boundary method" and you will find quite a number of publications about more or less the problem you care about. A reasonable starting point are the papers by Luca Heltai (https://scholar.google.it/citations?user=9TUDvmgAAAAJ&hl=en) or the man himself, Charles Peskin (https://scholar.google.com/scholar?hl=en&as_sdt=0%2C6&q=charles+peskin&btnG=&oq=charles+pesk). You might also be interested in examples of implementation, for example this tutorial program: https://www.dealii.org/developer/doxygen/deal.II/step_60.html