For the former, then accept a threshold, "reasonable level of equality" such that differences are within the norms of individual diversity. Then equality is achieved.
Or focus on "equality of opportunity" which is much simpler to gauge, as it only requires that opportunity be similar e.g. a person covered by fire insurance, whose house burnt down; had the same insurance "opportunity" as someone covered by the same policy whose house didn't burn down - same opportunity, if different outcomes.
It's clear that some I&D initiatives exist because of pre-existing issues. At the very least, some of it depends on the notion of "race", and that isn't guaranteed to exist forever.