It's not an SMSL feature, it's built into the DAC chip by AKM. SMSL has just allowed the user to change those settings in the UI.
The six different digital filters have different sharpness which can be seen in a frequency curve, only the sharpest kills everything above 22kHz. But filters do not only affect frequency response but also ringing/pre-ringing of the waveform, some are sensitive to this and will hear a difference, others will not. AKM describes it as a too sharp filter will make fast transients to have less spatial definition, meaning a less controlled stereo image and they mean some will take the disadvantages with less sharp for the better stereo definition. All this is described on the AKM website.
The "scenes" SC1-SC4 is more of a mystery, it's sort of like a tone control but a extreme slight one. I suppose it's the AKM response to ESS various "tube" sound and such. Maybe some added harmonics or something like that, still a mystery but should be regarded like a "tone control" meaning not transparent in all settings.