Sounds like a good solution for your needs.
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HiFiBerry’s DAC2HD / Pi4 bundle, along with the DSP add-on card, would give you everything you need to build a working unit, including a RPi which are currently hard to source.
You’d then just need to use the graphical PEQ feature built into HiFiBerryOS to adjust the EQ, no need for anything more complex if that is all you want to do.
Other than plugging the boards together and screwing it in a case it’s no more complex than installing Ropieee on a standard RPi.
Later on if you (optionally) wanted to automate you’re room correction could just get a USB microphone from HiFiBerry or MiniDSP. But no need for one if all you need is basic PEQ to start. The AutoEQ stuff can also be run from with HiFiBerry’s graphical interface, so no command line tinkering or external apps needed.
(there is absolutely no need to learn DSP toolkit or Sigma Studio for basic PEQ or Auto RoomEQ both of which can be handled visually from within HiFiBerryOS. Although if you did want to go there you can download your correction filters onto the DSP board from REW).
But if you already have a DAC and have no need for anything more than basic EQ then then Schitt is probably the less complex option 
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My understanding is that with a Pi 4 (which I have yet to get my hands on, due to supply chain issues) there is no penalty for using the USB ports, they are not shared with anything. This is not true with earlier models though. There is a performance hit on those models. Also, not sure what the maximum bit rate is going to be using the Pi 4 USB ports.
Unless you already have licenses for MATLAB and Simulink, or are an educational user, they are pretty expensive pieces of software.
Good to know.
TBH I’m going old school with a Schiit Loki+
It will mean less tinkering and more music listening!
I got me a cheap INTEL I3 NUC with 8GB RAM and 120GB SSD in a passive (fanless) housing, cost me EUR120 on ebay, installed ROON ROCK on it and it does even complex DSP / EQ (Convolver) with no sweat (runs for years now). Endpoint is ROPIEEE XL on a 4GB Pi4 which serves the DAC.
The DAC serves my STAX Amp and STAX electrostatic headphones; no noise, pure audio bliss…(I use the ROON Convolver to EQ my headphones)
Easy and cheap, problem solved…
Why “old school” with very limited abilities, if you could do most modern for so little??
That sounds great!
Im running my core on my Synology NAS so no NUC for me as it’s free on my NAS (already owned it for other needs).
I don’t need any complex DSP or headphone filters so my modest old school setup is working for me.