According to this:Certainly it would be convenient if an equalizer function like RME ADI-2 FS was built in. However, I don't know if it is possible to incorporate a high-performance EQ into the AXIGN AX5689 chip due to lack of detailed IC data.
The DSP is separate, but that might just be a functional representation, not a logical one. Besides, for all of these EQ presets, you'll need a few biquad as well. So you don't really need many more resources.
@peterwen, what's the DSP chip is used?