AFAIK, of all of the consoles that have usable I2S lines, none come even close to hitting the limitations of optically or electrically transmitted SPDIF. SPDIF of today is a lot more capable that what was laid out in the original spec. With the right equipment and cabling, 192Khz@24bps stereo is possible.
I took a quick look at the link. By the looks of things, that bifrost DAC has both types of SPDIF input. All you will need is the regular SPDIF mod for whatever console and a suitable cable.
I'd be surprised if a USB solution exists. Most likely something custom will have to be designed, and when you start throwing terms around like 'USB Host' and 'USB audio codec', the project jumps a few orders in complexity. Your best bet would be a fast microcontroller with I2S input and built in USB host controller. All you would need to do is write the software that would join the two together, and write it good enough to keep latencies to a minimum.