Loop-playback selection while applying and altering EQ effect

Is it possible to loop-playback a selection while applying and altering the frequency curve, i.e. sweep the frequencies? I cannot get it to work. Should I mention this in the “make suggestions for future versions”? Or does anyone know if this is already is a thing there?
I guess one workaround could be to duplicate track into multiple tracks, apply EQ to each with a little different spike-placement, solo each, and go through them. Any input appreciated.
All the Best!

No it’s not. The only Eq effect currently shipped with Audacity that has “real-time preview” is the “Bass and Treble” effect (Bass and Treble - Audacity Manual)

I’d guess that if you search Google you should be able to find a VST equalization effect that will work with Audacity. (Note that Audacity requires VST effects to be “32-bit”).