Uh, no, Windows doesn't have a similar feature.
That Windows option is specifically for:
- linebreaking support for east and southeast asian languages: Many of them don't use spaces, so if you want to know where you can break lines it is best to know what the words are. For this you need to have a pretty large dictionary file stored.
- fonts
- probably various assets for RTL languages (changed backgrounds, changed layout files, etc)
This is Windows providing this option for a very specific thing (and also downloading some files), for which there is okayish fallback functionality. Not cfg'ing the entire text stack.
I don't think you can easily slice and dice a text stack so that you can only pull in the components needed for Latin scripts without making it even more prone to bugs. You could write entirely separate stacks specialized for each group of scripts. But you'd probably end up with one for Latin/Cyrillic/Greek, one for Chinese/Japanese (not Korean) and one for "all the rest". There's enough feature overlap between most of the complex languages that there's questionable benefit to separating that out.
For example, most of the underlying text functionality in Telugu or other Indic scripts is not overall different from things in Hangul or Arabic (Arabic is more complex, actually), it's just that Telugu has certain features that press the buttons in just the right way to cause this crash. Which means that if you want to prevent this crash for other language users, what you need to do is not attempt to render Telugu, not swap out the font stack.
Like, looking at the last iOS crash that happened -- with the Arabic text -- that was because chopping off the end of a string of Arabic text doesn't guarantee that the string will be shorter. Really, you can replicate this for most scripts, it's just subtler (Even English has support for this, if your kerning is extreme enough. As long as your stack supports kerning, it supports everything necessary to crash this bug). So, the root text stack functionality that lets this happen is necessary for all scripts, Arabic just ends up pushing the right buttons in the right order to cause a crash.