A complex topic when allied to digital music reproduction, made more difficult by S/PDIF.
Assuming sound engineering the bits at the output of the receiver in your device at the end of the Cat 5 cable are precisely the same as the bits stored at the source. If they were not the modern world would collapse as no transaction could be relied upon.
Setting aside the linearity of the DAC chip(s) there are then, however, two (digital) issues that arise; what data gets presented to the DAC processor (the component(s) inside the "DAC" box that generate the analog signal) and when is that data presented.
Unlike the TCP/IP ethernet or WiFi connection the S/PDIF has error detection but not correction so a truly terrible digital interconnect could, I suppose, result in bit errors, resulting in data loss.
My suspicion is that any unwanted artifacts that are caused by changing between decent digital cables are caused by jitter being introduced and not eliminated by processing before the data is presented to the actual DAC chip(s).
I did an experiment with different cables between my Aurender N100SC and the Esoteric K-01XD. My baseline is the Cardas Clear USB connection, and I do have an external Stanford Systems Research rubidium clock.
The three cables that I tested were an MIT from the 90's, a "Trubutaries" Video Cable - not high end, not even a specific digital interconnect, and a two meter audio junk interconnect from who knows when (or why).
I did not listen extensively but the MIT cable and the Video cable were indistinguishable. The junk interconnect however was clearly not up to the task, the sonic quality sounded like hard clipping was occurring!
The Esoteric K series DACs have buffering and clock synchronization before the actual DAC processor, that appears to have taken care of any jitter issues.
I suspect that the audio cable did not have the bandwidth to support the 1.2MHz 24 48 S/PDIF signal and so there were data errors. (S/PDIF has a parity bit, hence 25x48,000 = 1.2MHz).
BTW, I take exception to a total dismissal of switch mode power supplies. OK regarding wall-warts, but, for example, Benchmark have transitioned to use SMS to reduce noise. It all depends on the quality of the power supply.
Once again, my apologies if I am a bit off-topic, but an interesting question makes my mind diverge onto allied topics.