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I suppose there could be a little over-/under-shoot in the voltage levels that come out of a DAC. But modern DACs already produce waveforms with so little defects that it's beyond not only the human ear to detect, but even a lot of test equipment.

DACs output analog voltage (or current depending on their setup) levels. They don't instantly "snap" from one level to the next, there's ramping up or down from sample to sample. So they already produce a smooth, continuous form.

I'd be more worried that their shaping tech would remove actual high frequency information, because of delay in the feedback loop. Which would make the audio sound more "warm", as does anything that rolls off the highs.