I think this is exactly the issue I am discussing with Topping right now. With PEQ enabled, and there are filters in the lower frequency range, I hear two pops after audio has stopped/paused. If I remove/disable the low frequency filters in Topping Tune, the pops disappear. If I simply turn on the PEQ function with no PEQ configuration (i.e. it says NULL in the settings menu), there are no pops.
It also seems to be volume-dependent. With my D50 III in DAC mode, my L50 HPA's gain switch set Low, and its volume knob at around 33% (around the 10 o'clock position), a filter at 20Hz exhibits a few pops. Leaving everything the same on the DAC/HPA, and the 20Hz filter is disabled -- leaving a 66Hz filter active -- there are no pops. If I turn the volume up on the L50 to around 50%, the pops are audible again. The lowest frequency that doesn't exhibit any pops with my L50's volume at max (gain still set to Low, and the DAC in DAC mode) is 100Hz. However, it is audible with an active filter at 100Hz if I switch the L50's gain to Medium.
None if it is immediately audible when listening to everything through speakers -- it is audible if one were to hold their ear up to the speaker drivers, but you have to get pretty close to hear (Topping has asked me to get a recording because they can't reproduce on their end, but the audibility makes it so that a recording is near-impossible). I also think that if I had my DAC in preamp mode, the popping wouldn't be as audible (or entirely gone) at my normal headphone listening levels.