The H2 chip by itself doesn’t appear to be enough for Apple’s new Custom EQ feature.
Apple’s current iOS 27 documentation lists Custom EQ for specific AirPods models only: AirPods 4/5, AirPods Pro 2/3, and AirPods Max 2. Powerbeats Pro 2 aren’t on that list.
→ AirPods that support Custom EQ - Apple Support
So if you’ve updated to iOS 27 and don’t see Equalizer in the Powerbeats Pro 2 settings, you’re not missing a switch.
You can still use Settings > Accessibility > Audio & Visual > Headphone Accommodations with Powerbeats Pro 2 to adjust the sound somewhat, but that isn’t the same three-band Low/Mid/High EQ.
→ Kopfhöreranpassungen für Beats auf dem iPhone, iPad oder Mac festlegen - Apple Support