Yes looks like that particular device is analog in and out only, so that’s how it works. You will have to try it and assess the results.
Room correction is a must tweak for most any case where one expects best results with given acoustics, so doing it is a no brainer IMHO. I’m confident the Mac device will do it well including A/D and D/A conversions needed.
If you have analog sources (phono, tape) this is pretty much the only way to roll!
I think you are on a good path, just do it right. Good luck!
FWIW I have both analog and digital sources but do almost all my playback via streamer. I convert analog vinyl and tape to digital using Audacity freeware (play once, stream many) and have no issues with the results compared to original analog source. The digital conversion captures all the nuances of the analog source perfectly. Then I use Roon DSP for 1) room correction + 2) tweak the sound to my personal preference in each of several rooms in my house. So been there done it and the results are beyond anything practically achievable in lieu of DSP. I get every room tuned in perfectly to my ears which is a wonderful thing.