I have the Arctis 7 as well and the default EQ sounds just fine, although I do prefer the Bass Boost. You can run the software inside a Windows VM, passthrough the USB dongle and configure all your settings as well. They get saved into the headset and work just fine in Linux without Linux native software.
It is not necessary to add the nvidia stuff to initramfs. The important part is
nvidia_drm.modeset=1
.