2020 choice of USB/audio bridge

MAX14930CASE (or FASE) should work and has much lower jitter.
IMHO, no one isolator (except on a transformer, and even then) has low enough jitter to pass a master clock from the interface to the DAC.
The oscillator should be located close to the DAC chip, and from there it should go to the interface through an isolator - in this case, the jitter of the isolator does not affect anything. For DACs sensitive not for MCLK only, other signals may be re-clocked.
 
IMHO, no one isolator (except on a transformer, and even then) has low enough jitter to pass a master clock from the interface to the DAC.
The oscillator should be located close to the DAC chip, and from there it should go to the interface through an isolator - in this case, the jitter of the isolator does not affect anything. For DACs sensitive not for MCLK only, other signals may be reclocked.
I agree. On this particular board MCK should bypass the isolator. But still ISO7240 with up to 1ns jitter is not something I would use for I2S signals either.
 
But what exactly is it playing after enumeration?
I never studied the details of device handling in PA. It may try to access the devices periodically to check if they still exist and are in a working state. For the default device (often the last one connected, unless specified otherwise) it may open it and keep it open (while playing zeros) for longer time, to avoid possible clicks in amp on/off, to allow smooth mixing in new streams, etc.

The safe rule is to disable a device in PA if you want to use it outside of PA. The setting is done only once, the config is persistent, the device can be disconnected/reconnected anytime afterwards.