They're starting from very different places - very different hardware capabilities and software platforms.
Wiim are starting with a streamer platform with processing power similar to a phone or Pi. I'm not sure it's running linux, but it's likely as that's what a lot of the streamers run. There are many relatively easy ways to add filters in linux, either at the OS level (alsa config, pipewire, etc.) or as part of the media streamer libraries (gstreamer or similar). You will find similar or more powerful EQ options on free software streaming options like piCorePlayer, Moode, Volumio etc. and threads explaining how to do similar on Pi or similar boards.
Topping are starting with a much less powerful microcontroller from XMOS with a much more limited set of DSP options. From what we've seen looking at firmware update processes for non-Windows computers, or common mistakes in device naming, they were sticking close to the XMOS example code. You need to use a microcontroller with sufficient processing power to process the EQ - much as they had to change to a more powerful microcontroller when they added MQA support. Someone with experience with the XMOS libraries
explained here why Topping only apply the DSP to the USB input on the D50 III, which should give some idea of the practical difficulties. They had to add a proprietary way to communicate the DSP settings as UAC2 doesn't have an easy way to do that. This then needs support on the computer side, hence the Windows-only Topping Tune app. Or you stick enough screen and buttons/knobs on it to do the PEQ on the DAC itself. Could they have done it earlier? Certainly, if they thought there was enough demand. I did suggest an alternate firmware for those that didn't want MQA but did want PEQ. Could they have done it differently? Yes - maybe with a separate DSP chip, or moving from XMOS to something closer to streamer hardware. Both of those involve a hardware redesign, and varying degrees of new software work. The counter to this is that XMOS seems to be a selling point for marketting purposes.
DAC manufacturers in general will be in a similar position to Topping. A lot use XMOS microcontrollers, probably because the example code makes a basic USB to I2S adapter relatively easy, and because it has brand recognition for marketting. Schiit apparently wrote their own code - I don't remember the microcontroller brand. The outliers that have PEQ already tend to be pro audio interfaces rather than pure DACs, and that's because their primary market demands it, especially at the upper end. The return on investment made it worth doing, and there's probably a degree of technology trickling down from the top of the range.
The other thing that's been happening recently is increased availability of USB and Bluetooth chips that include DSP cores at low prices. That's whywe're seeing things like the Moondrop FreeDSP cable for IEMs, and Moondrop Space Travel bluetooth IEMs offering EQ at low cost. If one of these chips provides USB to I2S we will no doubt see more USB DACs with PEQ.