There are multiple options to perform this in windows forms. As an option you can start with customizing RadioButton and Panel controls. You can create a new class derived from Panel and a new class derived from RadioButton, then override OnPaint method of those classes and draw the desired presentation.

Here is the result of a sample implementation which I shared in this post:

Custom Panel

public class MyPanel : Panel
{
    public MyPanel()
    {
        this.Padding = new Padding(2);
    }
    protected override void OnPaint(PaintEventArgs e)
    {
        e.Graphics.SmoothingMode = SmoothingMode.AntiAlias;
        using (var path = new GraphicsPath())
        {
            var d = this.Padding.All;
            var r = this.Height - 2 * d;
            path.AddArc(d, d, r, r, 90, 180);
            path.AddArc(this.Width - r - d, d, r, r, -90, 180);
            path.CloseFigure();
            using (var pen = new Pen(Color.Silver, d))
                e.Graphics.DrawPath(pen, path);
        }
    }
}

Custom Radio Button

public class MyRadioButton : RadioButton
{
    public MyRadioButton()
    {
        this.Appearance = System.Windows.Forms.Appearance.Button;
        this.BackColor = Color.Transparent;
        this.TextAlign = ContentAlignment.MiddleCenter;
        this.FlatStyle = System.Windows.Forms.FlatStyle.Flat;
        this.FlatAppearance.BorderColor = Color.RoyalBlue;
        this.FlatAppearance.BorderSize = 2;
    }
    protected override void OnPaint(PaintEventArgs e)
    {
        this.OnPaintBackground(e);
        using (var path = new GraphicsPath())
        {
            var c = e.Graphics.ClipBounds;
            var r = this.ClientRectangle;
            r.Inflate(-FlatAppearance.BorderSize, -FlatAppearance.BorderSize);
            path.AddEllipse(r);
            e.Graphics.SetClip(path);
            base.OnPaint(e);
            e.Graphics.SetClip(c);
            e.Graphics.SmoothingMode = System.Drawing.Drawing2D.SmoothingMode.AntiAlias;
            if (this.Checked)
            {
                using (var p = new Pen(FlatAppearance.BorderColor, 
                                       FlatAppearance.BorderSize))
                {
                    e.Graphics.DrawEllipse(p, r);
                }
            }
        }
    }
}

Required usings

using System;
using System.Drawing;
using System.Drawing.Drawing2D;
using System.Windows.Forms;