I'll second the Denafrips Ares recommendation. I am upsampling to native dsd256 via hqplayer and it sounds fantastic. The dsd section is a separate set of discrete chips from the pcm side (which also sounds great). Also has balanced xlr outputs and a slim footprint. Hard to go wrong for $600.
Regarding the Ares DAC, what are the input and output connection types on the back of the unit? I'd assume one coax (RCA ?) input and one pair of analog RCA output but it's really hard to tell from the pictures. Thx.
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